DTN Early Word Opening Livestock 11/20 05:47

DTN Early Word Opening Livestock 11/20 05:47 Cattle Futures Staged for Early Week Selling Live and feeder contracts should open under pressure, linked to Friday's bearish Cattle on Feed report. On the other hand, look for lean hog futures to open on a mixed basis thanks to a combination of short-covering and long liquidation. By John Harrington DTN Livestock Analyst Cattle: Cash Steady Futures 50-100 LR Live Equiv $136.07 - $1.33* Hogs: Cash Steady-$1 LR Futures Mixed Lean Equiv $86.18 + .44** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: With Thanksgiving quickly rising on the horizon, cattle buyers and sellers are stepping into a narrow window of likely business this morning. While Monday should be typically slow, limited to the distribution of new showlists, our guess is that cash players will work hard to have marketing chores completed by Wednesday afternoon. Live and feeder futures should open at least moderately lower, pressured by Friday's confirmation of larger-than-expected placement activity in October.