DTN Early Word Opening Livestock 09/28 06:05

DTN Early Word Opening Livestock 09/28 06:05 Livestock Futures Set for Mixed Opening The cattle complex should open on a mixed basis tied to a combination of short-covering and long liquidation. Lean futures are also expected to begin in a narrow range as traders position ahead of the quarterly hog inventory due out Thursday afternoon. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: Mixed Live Equiv $132.13 -1.34* Hogs: Steady-$1 LR Futures: Mixed Lean Equiv $ 77.91 + .15** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Cattle buying inquiry could start to gear up Thursday with opening bids around $104 in the South and $167 to $168 in the North. Encouraged a bit by Wednesday's board recovery, feedlot managers should put asking prices around $110 to $112 in the South and $172 to $174 in the North. If the impasse deepens, significant trade volume could once again be delayed until Friday. Live and feeder futures should open on a mixed basis as specs and commercials position ahead of late-week cash news.