DTN Early Word Opening Livestock 08/10 05:49

DTN Early Word Opening Livestock 08/10 05:49 Beef Futures Likely to Open Lower Thursday, Pressured By Follow-Through Selling Live and feeder seem staged for further losses Thursday, checked by follow-through selling, technical bearishness, and long liquidation. Lean hog issues are likely to open mixed with front months gaining more on deferreds. By John Harrington DTN Livestock Analyst Cattle: Steady w/Wed Futures: 50-100 LR Live Equiv $136.65 - .63 * Hogs: Steady-$1 LR Futures: Mixed Lean Equiv $100.61 - .37 ** * 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 fed cattle trade was fairly active on Wednesday as feedlot managers move to accept lower bids of $115 in the South and $183 to $185 in the North. We could see clean-up action Thursday and Friday, but the lion's share of cash business may already be done for the week. Asking prices on the balance of the showlists are around $116 in the South and $185 to $186 in the North. Look for live and feeder futures Thursday to open at least moderately lower thanks to residual selling interest and long liquidation.