DTN Early Word Opening Livestock 11/19 06:05

DTN Early Word Opening Livestock 11/19 06:05 Lean Hogs Staged to Open With a Firm Undertone Expect hog futures to build on limited gains landed on Friday's close, supported by follow-through buying and ideas of a late-year cash bottom. On the other hand, the cattle complex should begin with mixed price action in slow preholiday volume. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: Mixed Live Equiv: $139.60 - .24* Hogs: Steady-$1 HR Futures: 50-100 HR Lean Equiv: $ 73.03 - .55** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Given the holiday-shortened week, cattle buyers are not expected to waste much time in completing the necessary procurement chores, needing to collect slaughter needs pretty much for that balance of November between Monday and late Wednesday. Having said that, activity Monday should still be on the slow side as packers primarily focus on the collection of new showlists. Look for ready numbers to be somewhat larger than last week. Early asking prices are likely to be around $116 in the South and $178 to $180 in the North. Cattle futures should open on a mixed basis as players assess cash needs and potential.