DTN Early Word Opening Livestock 08/27 05:58

DTN Early Word Opening Livestock 08/27 05:58 Cattle Futures Set to Open Moderately Lower Look for the cattle complex to open moderately lower, pressured by follow-through selling and bearish implications of the Aug. 1 Cattle on Feed report. Lean hog futures should open on a mixed basis thanks to residual buying and nervousness regarding the adequacy of pork demand. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: 50-100 LR Live Equiv: $141.50 - .21* Hogs: Steady-$1 LR Futures: Mixed Lean Equiv: $ 69.19 - .70** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Activity in feedlot country should be typically limited to the distribution of new showlists. The late-month offering should be somewhat larger than last week. We assume that boxed beef demand will be slower right before Labor Day. Our guess is that most retailers and food managers at this point have their holiday needs covered. Live and feeder futures should open moderately lower, checked by residual selling interest and the bearish Cattle on Feed report released Friday afternoon.