DTN Early Word Opening Livestock 08/15 05:51
15 Aug 2017
DTN Early Word Opening Livestock 08/15 05:51 Look For Cattle Futures to Open Moderately Lower Live and feeder contracts are set to open moderately lower, pressured by residual selling interest and long liquidation. On the other hand, lean hog futures seem staged to open mixed with new spot October gaining on deferreds. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 LR Futures: 25-50 LR Live Equiv $135.53 - .18* Hogs: Steady-$1 LR Futures: Mixed Lean Equiv $ 99.64 - .33** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Specific bids and asking priced in feedlot country Tuesday will probably remain few and far between. We don't expect to see much cash potential until Wednesday or later. Preliminary asking prices are likely to be around $115 in the South and $184 to $185. Live and feeder futures seem likely to open moderately lower, pressured by follow-through selling and further long liquidation.