DTN Early Word Opening Livestock 10/09 06:02

DTN Early Word Opening Livestock 10/09 06:02 Look For Late-Week Livestock Futures to Open With Uneven Price Action Live and feeder futures are staged to open higher, supported by follow-through buying and bullish cash news. Lean hog contacts seem set to open on a mixed basis with deferreds holding up better than nearbys. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: 50-100 HR Live Equiv $132.11 - .28* Hogs: Steady-$1 HR Futures: Mixed Lean Equiv $ 77.76 - .36** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Cattle market watchers put in plenty of overtime last week but were ultimately rewarded by greater packer spending late Friday. Such success will no doubt encourage feedlot managers to price ready cattle several dollars higher this week. Activity Monday will be limited to the collection of new showlists. We expect the new offering to be somewhat larger than last week. Live and feeder futures are expected to open on a firm basis, boosted by residual selling interest and higher cash sales.