DTN Early Word Opening Livestock 04/27 05:59

DTN Early Word Opening Livestock 04/27 05:59 Cattle Futures Seem Staged to Open Mixed as Traders Position Ahead of Cash News The cattle complex is expected to open on a mixed basis with nearbys gaining on deferreds. Lean hog futures should begin under further selling pressure tied to uninspiring fundamentals and ongoing supply worries. By John Harrington DTN Analyst Cattle: Steady-$2 HR Futures: Mixed Live Equiv: $144.35 + .92* Hogs: Steady Futures: 50-100 LR Lean Equiv: $ 72.74 - .64** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Friday cattle traders are moving into the third consecutive of late-week showdowns. Fridays have proven pretty lucky for feedlot managers this month, and it will be interesting to see if sellers can once again demonstrate superior leverage over packers sometime between late morning and late afternoon. Opening bids will probably be renewed at $121 in the South and $192 in the North. We expect feedlot managers to dig in their heels regarding asking prices of $125 in the South and $200 to $203 in the North, at least through the noon hour. Look for live and feeder futures to open on a mixed basis as traders cautiously jockey ahead of cash news.