DTN Early Word Opening Livestock 10/25 06:02

DTN Early Word Opening Livestock 10/25 06:02 Hog Contracts Staged to Open With Significant Spillover Strength Look for hog futures to open with impressive strength thanks to follow-through buying and late-week short-covering. Cattle paper should open moderately higher, supported by optimism regarding the likelihood of higher feedlot sales. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: 25-50 HR Live Equiv: $138.76 + .67* Hogs: Steady-$2 LR Futures: 50-100 HR Lean Equiv: $ 82.55 -0.32** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: While we're still waiting for someone to throw out the first ball in the feedlot championship this week, likely that potential will start to get more real Thursday. Look for starter bids around $111 in the South and $174 to $175 in the North. Yet if asking prices hold firm around $115 in the South and $180 in the North, it could mean business will be delayed until Friday. Live and feeder futures should open moderately higher, supported by residual buying and feedlot bullishness.