DTN Early Word Opening Livestock 01/10 05:52
10 Jan 2018
DTN Early Word Opening Livestock 01/10 05:52 Live and Feeder Futures Set for Moderate Strength on Opening The cattle complex should begin with moderate strength ties to short-covering and cash premiums. Lean hog contracts are likely to open on a mixed basis thanks to a slow combination of follow-through buying and profit-taking. By John Harrington DTN Livestock Analyst Cattle: Steady/Weak w/Tues Futures: 25-50 HR Live Equiv $141.59 + .20* Hogs: $1-2 HR Futures: Mixed Lean Equiv $ 84.72 + 1.11** * 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 buyers and sellers have reached midweek and cash business seemed to be pretty much wrapped up. Frankly, we can't remember ever saying that before. Clean-up business is certainly possible. The balance of showlists are probably priced around $122 in the South and $194 plus in the North. Live and feeder futures should open moderately higher, supported by short- covering and cash premiums.