DTN Early Word Opening Livestock 10/31 05:59
31 Oct 2017
DTN Early Word Opening Livestock 10/31 05:59 Follow-Through Buying Interest Should Sponsor Firm Openings for Meat Contracts Look for the cattle complex to open moderately higher, supported by follow-through buying and technical buying. Lean hog issues should also begin on a firm basis thanks to the premium status of the cash index and encouraging chart formations. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: 50-100 HR Live Equiv $135.60 + .29* Hogs: Steady-$1 HR Futures: 50-100 HR Lean Equiv $ 83.68 +1.01** * 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 seems set for a typically quiet Tuesday with bids and asking prices poorly defined. Significant trade volume probably won't surface until the second half of the week. Live and feeder futures should open moderately higher, lifted by residual buying interest and technical bullishness.