DTN Early Word Opening Livestock 12/04 05:58

DTN Early Word Opening Livestock 12/04 05:58 Livestock Futures Staged for Mixed Opening The cattle complex should open the first full week of December on a mixed basis thanks to follow-through selling and early-week short-covering. Look for lean hog issues to also open with uneven price action supported by residual buying, but checked by the discount of the cash index. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: Mixed Live Equiv $134.77 + .37* Hogs: Steady Futures: Mixed Lean Equiv $ 88.59 -0.16** * 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 country should be typically slow Monday as packers move to gather new showlists. Look for the early-month offering to be somewhat larger than last week. However, packers could easily counter with a bigger appetite. Both sides will be closely monitoring the ability of futures and cutouts to find a bottom. Live and feeder futures are likely to open on a mixed basis thanks to follow-through selling on one hand and early-week short-covering on the other.