DTN Early Word Opening Livestock 01/04 06:07

DTN Early Word Opening Livestock 01/04 06:07 Livestock Futures Set to Close Week With Mixed Price Action Look for the cattle complex at the CME to begin on a mixed basis thanks to cash premiums on one hand and late-week profit-taking on the other. Lean hog issues are also expected to open mixed with nearbys better supported than deferreds. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: Mixed Live Equiv: $143.47 - .44* Hogs: Steady-$1 HR Futures: Mixed Lean Equiv: $ 74.63 - .14** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Trade volume in cattle country was uneven on Thursday with decent movement in the South (i.e., $125 live, steady) and generally slow in the North. While we could always be surprised by Mandatory's final reporting, we expected Northern business to improve Friday. Scattered clean-up action is also possible in parts of the South. Some asking prices will be restated around $126 plus in the South and $200 in the North. Live and feeder futures should open on a mixed basis with trading ideas torn between feedlot premium sales and late-week profit-taking.