DTN Early Word Opening Livestock 12/27 06:23
27 Dec 2017
DTN Early Word Opening Livestock 12/27 06:23 Cattle Futures Staged for Follow-Through Buying on Opening Look for the cattle complex to open higher, supported by folllowing buying and signs of renewed beeef demand. Lean hog issues should begin with mixed prices with nearbys faring better than deferreds. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: 50-100 HR Live Equiv $135.33 + $1.89* Hogs: Steady Futures: mixed Lean Equiv $81.76 - 0.75** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Packer inquiry in feedlot country is expected to limited this morning with significant trade volume probably delayed until Thursday and Friday. Beef producers will probably be slow to price cattle thanks to the explosive nature of early-week futures. Live and feeder futures should open at least moderately higher supported by residual buying and signs of technical encouragement.