DTN Early Word Opening Livestock 07/20 06:03

DTN Early Word Opening Livestock 07/20 06:03 Cattle Paper Set to Open Mixed in the Face of Cash and Report Uncertainties Live and feeder futures should open on a mixed basis as traders cautiously anticipate cash news and on feed/inventory data. Lean hogs are also likely to begin with uneven price action thanks to a combination of long liquidation and short-covering. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: Mixed Live Equiv: $136.09 -.19* Hogs: Steady-$1 LR Futures: Mixed Lean Equiv: $ 87.87 +.34** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Well, here we are again. Despite last week's smaller trade volume total, no one apparently had problems holding their breath through the week, hoping that the other side would be forced to come up for air first. But there must be plenty of blue faces in the country at this point, forcing the development of at least moderate business sometime between late morning and late afternoon. Look for opening bids around $108 live and $170 to $173 dressed, well below asking prices of $114 to $115 live and $180 plus in the North.