DTN Early Word Opening Livestock 12/13 06:23

DTN Early Word Opening Livestock 12/13 06:23 Lean Hog Contracts Likely to Open Some Lower Expect lean hog futures to start out moderately lower, checked by board premiums and softening carcass value. The cattle complex should open on a mixed basis as traders position ahead of cash potential. By John Harrington DTN Analyst Cattle: Steady-$2 HR Futures mixed. Live Equiv: $140.02 - 0.81* Hogs: Steady-$1 LR Futures: 50-100 LR Lean Equiv $77.25 - 0.89** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: It won't be surprising to see more bids and asking prices on the cattle table this morning, but the significant develop of actual trade volume before Friday would be more of a head-turner. For more than a month, feedlots have collected good dividends by staying late at the cash party. Some could be sobered if choice product continues to fade, but our guess is asking prices of $120-121 in the South and $190 plus in the North will stand tall for several more days. Live and feeder futures should open on a mixed basis as buyers and sellers await the week's cash verdict.