DTN Early Word Opening Livestock 08/14 06:24
14 Aug 2017
DTN Early Word Opening Livestock 08/14 06:24 Mixed Opening Expected by Livestock Futures Live and feeder futures are set to open on a mixed basis this morning as a combination of residual short covering and nervous fundamentals. Lean hog contracts should also begin with uneven price action in light trade volume. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 LR Futures: mixed Live Equiv $135.71 - 0.41* Hogs: Steady-$1 LR Futures: mixed Lean Equiv $ 99.97 - 0.75** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Feedlot country will be typically slow to start the week with buyers and sellers focusing exclusively on the distribution of new showlists. We expect the mid month offering to be somewhat larger than last week. Asking prices will no doubt remain hidden until producers get a better handle on board prospects. Live and feeder contracts seem likely to open on a mixed basis tied to follow-through buying on one hand and renewed long liquidation on the other.