DTN Early Word Opening Livestock 07/28 05:56
28 Jul 2017
DTN Early Word Opening Livestock 07/28 05:56 Meat Futures Are Set to Open Moderately Lower Look for the cattle complex to open moderately lower, checked by long liquidation and lower cutouts. Lean hog issues are also expected to begin under moderate pressure in light trade volume. By John Harrington DTN Livestock Analyst Cattle: Steady w/Wed Futures: 50-100 LR Live Equiv $138.86 - .94* Hogs: Steady to $1 LR Futures: 50-100 LR Lean Equiv $105.51 - .64** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Light trade volume is possible in feedlot country Friday with prices about steady with the lower money seen at midweek (i.e., $117 live; $188 dressed). Yet we won't be surprised if little business is added by the end of the day. Late-week asking prices should be around $118 to $120 in the South and $190 in the North. Live and feeder futures seem staged to open moderately lower, pressured by long liquidation and nervousness regarding late-summer fundamentals.