DTN Early Word Opening Livestock 07/21 08:36
21 Jul 2017
DTN Early Word Opening Livestock 07/21 08:36 Late-Week Meat Futures Geared for Mixed Opening Look for the cattle complex to open on a mixed basis as traders position ahead of cash news and USDA reports. Lean hog futures should also begin with uneven price action linked to both bull and bear spreading interest. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: mixed Live Equiv $139.30 - 0.29* Hogs: Steady-$1 LR Futures: mixed Lean Equiv $109.51 - 0.67** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: It's been quite a while since we've waled into Friday with so much of the cash cattle trade undecided. Opening bids are likely to start out around $118 live and $188 dressed. Asking prices should be restated around $120-122 in the South and $190-192 in the North. Light to moderate trade volume could be delayed until later this afternoon.