DTN Early Word Opening Livestock 07/26 05:55
26 Jul 2017
DTN Early Word Opening Livestock 07/26 05:55 Meat Futures Stages For Mixed Opening, Higher in Hogs, Lower in Cattle Lean hog futures should open moderately, supported by follow-through buying and cash premiums. The cattle complex is likely to be on the defensive, pressured by residual selling and long liquidation. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 LR Futures: 50-100 LR Live Equiv $140.24 + .34* Hogs: Steady-.50 LR Futures: 50-100 HR Lean Equiv $107.97 + .19** * 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 market could start to take on some definition at midweek in terms of a few preliminary bids and asking prices. Buyers and sellers will be watching for clues from the FCE internet trade later the morning. Live and feeder futures should open lower, pressured by follow-through selling and uncertain cash potential.