DTN Early Word Opening Livestock 08/25 06:00

DTN Early Word Opening Livestock 08/25 06:00 Cattle and Hog Futures Staged for Mixed Opening Look for the cattle complex to open with uneven prices thanks to a combination of short-covering and long liquidation. Lean hog futures should also open on a mixed basis tied to residual buying and late-week selling. By John Harrington DTN Livestock Analyst Cattle: Steady w/Wed Futures: Mixed Live Equiv $130.82 - .43* Hogs: $1-2 LR Futures: Mixed Lean Equiv $ 92.68 - .75** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: A late-week round of light trade volume could surface Friday in parts of cattle-feeding country. Yet we suspect the lion's share of cash business for the week is already in the can. Scattered bids are likely to be around $105 to $106 in the South and $168 yo$170 in the North. Late-week asking prices should be close to $107 in the South and $173 plus in the South. The Aug. 1 Cattle on Feed report will be released Friday afternoon. Average private guesses anticipate the following: on feed, up 4% to 5%; placed in July, up 6% to 7%; marketed in July, up 4% to 5%. Live and feeder futures seem geared to open on a mixed basis thanks to a combination of follow-through buying and long liquidation.