DTN Early Word Opening Livestock 11/05 05:57

DTN Early Word Opening Livestock 11/05 05:57 Meat Futures Set to Open Week With Mixed Prices Look for the cattle complex to open with uneven price action tied to cash strength on one hand and uncertain pre-Thanksgiving demand on the other. Lean hog issues should also open on a mixed basis in slow volume. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: Mixed Live Equiv: $142.44 - .73 Hogs: Steady-$1 LR Futures: Mixed Lean Equiv: $ 80.02 - .37** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Action in cattle country Monday will be limited to the distribution of new showlists. Friday's late developing cash trade makes it tough to estimate last week's trade volume. Our guess is that at least some beef producers carried over unsold steers and heifers. In other words, the new feedlot offering could be somewhat larger than last week. Though it will be interesting to see mandatory summaries when they are issued just before the noon hour. Live and feeder are likely to open on a mixed basis thanks to a combination of cash strength and uncertain November beef demand.