DTN Early Word Opening Livestock 08/04 06:02

DTN Early Word Opening Livestock 08/04 06:02 Livestock Futures Set to Open Mixed Tied to Late-Week Caution Live and feeder futures should open on a mixed basis thanks to both follow-through buying and late-week profit-taking. Lean hog contracts are also expected to begin with uneven price action with nearby holding up better than deferred. By John Harrington DTN Livestock Analyst Cattle: Steady w/Wed Futures: Mixed Live Equiv $138.74 + .13 * Hogs: Steady-$1 LR Futures: Mixed Lean Equiv $102.29 - .11 ** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: With trade volume totals generally better than moderate, we expect cattle buyers to engage in the country sometime Friday, enough to gather another light to moderate round of ready steers and heifers. Opening bids should be around $118 in the South and $188 in the North. Asking prices should be around $120 in the South and $190 plus in the North. Live and feeder futures seem staged to open mixed with residual buying on one hand and pre-cash profit-taking on the other.