DTN Early Word Opening Livestock 01/11 05:48
11 Jan 2018
DTN Early Word Opening Livestock 01/11 05:48 Look for Cattle Futures to Open Moderately Lower The cattle complex is set to open moderately lower, checked by follow-through selling and long liquidation. Lean hog futures seem staged to begin with mixed price action tied to both residual selling and bullish cash news from the country. By John Harrington DTN Livestock Analyst Cattle: Steady/Weak w/Mon Futures: 25-50 LR Live Equiv $141.34 - .25* Hogs: $1-2 HR Futures: Mixed Lean Equiv $ 84.64 - .08** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Given the unusual round of early-week cash trading, feedlot business seems to be virtually put to bed. We could see a few clean-up deals here and there, but don't look for much. Any unsold cattle are probably priced around $122 in the South and $193 in the North. Live and feeder futures are staged to open moderately lower, pressured by follow-through selling and long liquidation.