DTN Early Word Opening Livestock 06/30 05:54
30 Jun 2017
DTN Early Word Opening Livestock 06/30 05:54 Late Week Meat Futures Seem Geared to Open Mixed Look for the cattle complex to open with uneven price action thanks to a combination of follow-through buying and late-week profit-taking. Lean hog contracts are also expected to open mixed with nearbys gaining on deferreds.. By John Harrington DTN Livestock Analyst Cattle: Steady w/Thurs Futures: Mixed Live Equiv $150.46 - 1.73* Hogs: Steady-$1 HR Futures: Mixed Lean Equiv $107.85 - 1.22** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Although a limited amount of clean-up trade is possible Friday, we suspect that the cash cattle trade is essentially done for the week. Cattle remaining on showlists are priced around $122 to $123 in the South and $192 to $193 plus in the North. Live and feeder futures should open on a mixed basis thanks to a slow combination of residual buying and pre-weekend profit-taking. Spot June is set to expire at high noon.