DTN Early Word Opening Livestock 08/11 05:46

DTN Early Word Opening Livestock 08/11 05:46 Livestock Futures Likely to Open With Mixed Prices The late-week cattle complex at the CME should open on a mixed basis tied to residual selling on one hand and short-covering on the other. Look for uneven price action in lean hog futures as well, much as we've seen all through the week. By John Harrington DTN Livestock Analyst Cattle: Steady w/Wed Futures: Mixed Live Equiv $136.12 - .53* Hogs: Steady-$1 LR Futures: Mixed Lean Equiv $100.72 + .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: The cash cattle trade appears to be essentially done for the week. It's certainly possible that we could see isolated clean-up here and there. But even such scattered action would probably require feedlot managers accept lower bids than those seen on Wednesday. Unsold steers and heifers are probably priced around $115 to $116 in the South and $185 plus in the North. Live and feeder futures should open with unseen prices thanks to residual selling and late-week short-covering.