DTN Early Word Opening Livestock 11/30 05:53

DTN Early Word Opening Livestock 11/30 05:53 Cattle Futures Staged for Mixed Opening as Traders Wait for Late-Week Cash Verdict Live and feeder contracts are expected to open on a mixed basis as the cash market remains undecided. Lean hog futures should open at least moderately higher, supported by follow-through buying and late-week bull-spreading. By John Harrington DTN Analyst Cattle: Steady-$2 HR Futures: Mixed Live Equiv: $139.78 - .24* Hogs: Steady/Firm Futures: 50-100 HR Lean Equiv: $ 73.29 + .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: The cash cattle trade will develop sometime Friday between late morning and late afternoon. Look for opening bids around $180 to $183 on a dressed basis in the North and $115 to $117 on a live basis in the South. Asking prices are likely to be renewed in the neighborhood of $187 plus in the North and $120 plus in the South. Live and feeder futures seem set to open with uneven price action with nearbys probably holding up better than their deferred counterparts.