DTN Early Word Opening Livestock 06/19 05:54
19 Jun 2017
DTN Early Word Opening Livestock 06/19 05:54 Livestock Paper Set to Open Week With Mixed Prices The cattle complex is staged to open on a mixed basis thanks to an early combination of short-covering and long liquidation. Lean hog futures are also set to begin with uneven price action with nearby gaining ground on deferred issues. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 LR Futures: Mixed Live Equiv $161.43 - .15* Hogs: Steady-$1 HR Futures: Mixed Lean Equiv $101.12 + .75** * 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 trade will be typically slow Monday with activity limited to the distribution of new showlists. We expect ready numbers to be generally larger than last week thanks to both unsold cattle carried over and an expanding supply of fed calves. Live and feeder futures should open on a mixed basis thanks to short-covering on one hand and long liquidation on the other.