DTN Early Word Opening Livestock 10/27 06:17

DTN Early Word Opening Livestock 10/27 06:17 Livestock Futures Staged for Firm, Late-Week Opening The cattle complex should open moderately higher, supported by follow-through buying and cash optimism. Lean hog paper also seem set to open on a firm basis thanks to constructive fundamentals and technical buying. By John Harrington DTN Livestock Analyst Cattle: $1-3 HR Futures: 25-50 HR Live Equiv $134.82 + 0.61* Hogs: Steady Futures: 25-50 HR Lean Equiv $82.55 +$1.02** * 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 are running out of time to start/complete procurement chores before adjourning for the week. Most sense that live inventory is going to cost more with "how much more" the only real question. Indeed, if today's business turns out to be no better than steady, it will be seen as a major disappointment. Look for open bids around $111 in the South and $174-175 in the North, well below asking prices of $116-118/$180-185. Look for at least moderate trade volume to surface sometime between late morning and mid afternoon. CME officials announced no delivery activity on Thursday. Live and feeder futures should open moderately higher thanks to following buying and cash optimism.