DTN Early Word Opening Livestock 03/27 05:57

DTN Early Word Opening Livestock 03/27 05:57 Lean Hog Futures to Open Mixed as Traders Start to Position Ahead of Hogs & Pigs Report Look for hog futures to open on a mixed basis thanks to a combination of short-covering and long liquidation. The cattle complex should open moderately lower, checked by follow-through selling and reluctant buying interest. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 LR Futures: 50-100 LR Live Equiv $148.50 - .45* Hogs: $1-2 LR Futures: Mixed Lean Equiv $ 75.87 + .18** * 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 cash cattle market could get started sometime Tuesday, but much depends on the stability (or lack) of the board and basis opportunities. While it's a tough call, our guess is that feedlot managers will start out pricing showlists around $5 plus over the board. You could make the case that buyers and sellers would like to take care of business by Thursday. Live and feeder futures seem set to open moderately lower, pressured by follow-through selling and cash uncertainty.