DTN Early Word Opening Livestock 10/04 06:00
4 Oct 2017
DTN Early Word Opening Livestock 10/04 06:00 Cattle Futures Staged at Midweek for Further Strength Live and feeder cattle futures should open at least moderately higher, supported by follow-through buying and technical considerations. Lean hog contracts are expected to begin with mixed prices in light to moderate volume. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: 50-100 HR Live Equiv $132.42 + .24* Hogs: Steady-$1 HR Futures: Mixed Lean Equiv $ 77.70 - .32** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Cattle buying interest could slowly start to develop Wednesday, at least in terms of more preliminary bids placed on the table. But look for asking prices to firm thanks in part to Tuesday's recovery in cattle futures. Southern showlists should be priced around $110 to $112 with the Northern offering priced around $174 to $176. Live and feeder futures should open moderately higher, boosted by residual buying energy and technical concerns.