DTN Early Word Opening Livestock 06/20 05:57
20 Jun 2017
DTN Early Word Opening Livestock 06/20 05:57 Lean Hog Futures Likely to Open With Firm Prices Look for lean hog futures to open higher, supported by follow-through buying interest and constructive fundamentals. On the other hand, the cattle complex should start out lower thanks to residual selling interest and cash uncertainty. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 LR Futures: 50-100 LR Live Equiv $161.68 + .25* Hogs: $1-2 HR Futures: 50-100 HR Lean Equiv $102.06 + .94** * 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 should remain in slow motion Tuesday with bids and asking prices remaining poorly defined. Yet much may depend on the ability of the board to stabilize. Another big drop in futures could force feedlot sellers to consider sharply lower cash bids. Live and feeder futures should open lower, pressured by follow-through selling and long liquidation.