DTN Livestock Open: Cattle Paper Mixed in Cautious, Pre-On Feed Report Business

Live and feeder futures should start out mixed this morning as traders jockey ahead of cash news and the new feedlot inventory. Lean hog futures are also set for a mixed opening with nearbys supported more than deferreds.

Cattle: Steady-$2 HR Futures: mixed Live Equiv $133.61 +$1.21*
Hogs: Steady-$1 HR Futures: mixed Lean Equiv $ 79.44 + 0.44**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue

GENERAL COMMENTS:

Backed into the late-week corner, cattle buyers and seller will have to come to terms sometime today. Look for bids to be renewed around $109-110 live and $172-173 dressed. Asking prices should also be restated around $112 plus in the South and $175-plus in the North.

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