DTN Early Word Opening Livestock 12/18 05:56

DTN Early Word Opening Livestock 12/18 05:56 Meat Futures Seem Staged for Mixed Opening Look for cattle futures to open on a mixed basis thanks to a combination of residual selling and short-covering. Lean hog contracts should also with uneven price action as traders position further ahead of the Dec. 1 Hogs & Pigs report scheduled for Thursday. By John Harrington DTN Analyst Cattle: Steady Futures: Mixed Live Equiv: $140.62 + .87* Hogs: Steady-$1 LR Futures: Mixed Lean Equiv: $ 76.65 + .16** * 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 buyers and sellers would probably like to conclude business this week as soon as possible given the holiday schedule ahead. Yet that's not likely to mean an active Tuesday. Bids and asking prices should remain largely hidden until midweek. Smaller packer appetites may simply be offset by smaller feedlot offerings. Processing margins remain very solid, even though retail needs may slow through the end of the year. Live and feeder futures should open Tuesday on a mixed basis in slow pre-cash, pre-on feed volume.