DTN Early Word Opening Livestock 12/14 06:01
14 Dec 2017
DTN Early Word Opening Livestock 12/14 06:01 Lean Hog Futures Staged for Defensive Opening Lean hog contracts should open lower, pressured by long liquidation and struggling carcass value. On the other hand, cattle complex futures seem likely to open on a mixed basis as traders position ahead of cash news. By John Harrington DTN Livestock Analyst Cattle: Cash Steady Futures Mixed Live Equiv $133.88 - .83* Hogs: Cash $1 to $2 LR Futures 100-200 LR Lean Equiv $81.78 - $4.61** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Cash cattle potential should start to take greater shape this morning with starter bids around $115 in the South and $184 to $186 in the North. Some showlists seem to be priced around $119 to $120 in the South and $188 to $190-plus in the North. Significant trade volume could easily be delayed until Friday. Look for live and feeder futures to begin with mixed price action as specs and commercials cautiously watching for the development of feedlot news.