DTN Early Word Opening Livestock 08/15 06:19

DTN Early Word Opening Livestock 08/15 06:19 Meat Futures Set for Mixed Opening at Midweek Look for the cattle complex to start out with mixed price action, torn between cash premiums and short-covering. Lean hog issues seem staged to open on a mixed basis as well thanks to light bull-spreading on one hand and profit-taking on the other. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: Mixed Live Equiv: $139.17 + .84* Hogs: $1 LR Futures: Mixed Lean Equiv: $ 74.85 -1.27** * 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 interest could start to intensify Wednesday, but much may depend on general psychology and late-summer price expectations. There were some lower feedlot sales reported on Tuesday, but it's tough to tell whether such bearishness will mushroom into larger, definitive trade-volume totals. Asking prices should be around $112 to $114 live and $176 to $178 dressed. Live and feeder futures should open on a mixed basis, thanks to long liquidation and recent cash premiums.