DTN Early Word Opening Livestock 09/05 06:22
5 Sep 2017
DTN Early Word Opening Livestock 09/05 06:22 Mixed Price Action Expected in Opening Meat Futures Cattle futures seem likely to resume trading after the long holiday weekend with mixed prices, thanks to a combination of follow-through buying and uncertain cash prospects. Lean hog contracts should also open on a mixed basis with nearbys probably outperforming deferreds. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 LR Futures: mixed Live Equiv $130.92 - 0.39* Hogs: Steady-$1 LR Futures: mixed Lean Equiv $ 89.83 + 0.90** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Thanks to the long weekend, the cattle market is off to a slow start this week. So Tuesday will be as slow as a typically Monday with packers limiting their efforts to the collection of new showlists. Last week's country seemed relatively slow, perhaps causing feedlots to carry over a few more ready steers and heifers.