DTN Early Word Opening Livestock 10/30 06:19

DTN Early Word Opening Livestock 10/30 06:19 Hog Paper Likely to Open Moderately Lower Lean hog futures are set to open moderately lower, pressured by follow-through selling and defensive fundamentals. The cattle complex should begin with mixed prices as traders position ahead of late week cash news. By John Harrington DTN Livestock Analyst Cattle: Steady to $2 HR Futures: mixed Live Equiv $147.76 + 0.16 * Hogs : $1 LR Futures: 25-50 LR Lean Equiv $ 85.24 - $3.27 ** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: The clock is running on short-bought cattle buyers. We expect to see light-to-moderate trade volume surface in the North sometime between late morning and early afternoon. Look for opening dressed bids around $210 in the face of asking prices around $215 plus. Business in the South is probably less certain given decent movement seen on Tuesday. Unsold cattle still available are priced around $142. CME officials announced 27 new deliveries on Thursday (6 lds steers at Columbus; 5 lds of heifers and 16 lds of steers at Worthing). Live and feeder futures seem likely to open on a mixed basis as traders position ahead of late week cash news.