DTN Early Word Opening Livestock 10/22 06:04

DTN Early Word Opening Livestock 10/22 06:04 Cattle Futures Stage Early-Week Opening For Mixed Prices Live and feeder futures are expected to open on a mixed basis thanks to early-week, follow-through selling and firming cash sales. On the other hand, lean hog futures seem likely to begin moderately lower as seasonal supplies continue to overshadow product demand. By John Harrington DTN Livestock Analyst Cattle: Steady. Futures: Mixed Live Equiv: $136.58 +0.83* Hogs: Steady-$1 LR Futures: 50-100 LR Lean Equiv: $ 83.43 +0.28* * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Activity in feedlot country should be typically limited to the distribution of new showlists. At this point, we assume that the availability of ready steers and heifers in the South will be somewhat larger than last week (since many producers declined bids of $111 late Friday). On the other hand, the new fed offering in the North should be about steady with last week. Live and feeder futures seem geared to open on a mixed basis with nearbys gaining on deferreds.