DTN Early Word Opening Livestock 02/01 05:49

DTN Early Word Opening Livestock 02/01 05:49 Nearby Hog Futures Set to Gain More Ground on Deferreds Lean hog futures should open on a mixed basis with spot February better supported than deferreds. On the other hand, the cattle complex is staged to open moderately lower, pressured by follow-through selling and further long liquidation. By John Harrington DTN Livestock Analyst Cattle: Steady w/Midweek Futures: 25-50 LR Live Equiv $141.33 + .13* Hogs: Steady-$1 HR Futures: Mixed Lean Equiv $ 87.82 + .17** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Light to moderate cattle trade develop in the North at midweek, and volume may have been large enough to essentially complete procurement needs. We'll have a better handle on what may remain on showlists when summaries are released later Thursday morning. Asking prices on steers and heifer still unsold are probably priced around $128 in the South and $202 in the North. Live and feeders should open moderately lower, checked by residual selling interest and further long liquidation.