DTN Early Word Opening Livestock 09/25 08:01
25 Sep 2017
DTN Early Word Opening Livestock 09/25 08:01 Cattle Paper to Launch New Week with Mixed Prices The cattle complex is set to open on a mixed basis with nearby supported by stronger cash sales and deferred checked by placement news. Lean hogs should open moderately lower, pressured by follow-through selling and defensive fundamentals. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: mixed. Live Equiv $130.44 + .04* Hogs: $1-2 LR Futures: 50-100 LR Lean Equiv ___FCKpd___0nbsp; 77.97 - .34** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: We're in for a typically quiet Monday with efforts limited to the distribution of new showlists. Look for ready numbers of steers and heifers to be about steady with last week. Between the bullish momentum over the last several week and the premium structure of the board, it seems like a good bet that asking prices will start out around $2-3 higher (e.g., $110-112 live basis). Live and feeder futures should open on a mixed basis with nearby holding up better than deferred. More specifically, December live should initially catch some selling thanks to the larger than expected August placement confirmed on Friday.