DTN Early Word Opening Livestock 09/01 06:30

DTN Early Word Opening Livestock 09/01 06:30 Look for Mixed Opening in Livestock Futures The cattle complex should open on a mixed basis with slow pre-holiday trade volume. Lean hog futures should also see uneven price action in the early rounds thanks to late week short covering and profit taking. By John Harrington DTN Livestock Analyst Cattle: Steady w/Wed Futures: mixed Live Equiv $131.31 -0.01* Hogs: $1-2 LR Futures: mixed Lean Equiv $88.93 -0.97** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Trade volume totals in cattle feeding country are moderate at best, and there would seem to be plenty of late week room for at least scattered clean-up business. Having said that, the week's price range has no doubt been established. Look for opening bids this morning around $104-105 live and $164 dressed. Asking prices on the balance of showlists should be around $106 plus in the South and $166 in the North. Live and feeder futures seem staged to open on a mixed basis thanks to a slow combinations of short covering and long liquidation.