DTN Early Word Opening Livestock 03/07 06:31

DTN Early Word Opening Livestock 03/07 06:31 Livestock Futures Set to Open on a Mixed Basis Summary: The cattle complex should open on a mixed basis tied to a combination of spillover selling and light short covering. Similarly, lean hog contract will probably lack consistent direction on the opening with cautious trade volume. By John Harrington DTN Livestock Analyst . Cattle: Steady to $2 HR Futures: mixed Live Equiv $142.56 + .56 * Hogs: Steady Futures: mixed Lean Equiv $87.92 + $1.90 ** * 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 market seems set for a typically slow Tuesday with neither bids nor asking prices well define. Significant trade volume could easily be delayed until Thursday or Friday. Our guess is that some cattle will start out priced around $128 in the South and $202 plus in the North. We understand chain speed could drag somewhat through the week with at least one plant dark for scheduled maintenance. Live and feeder are likely to open on a mixed basis linked to a combo of follow-through selling and short covering.