DTN Early Word Opening Livestock 02/05 05:50
5 Feb 2018
DTN Early Word Opening Livestock 02/05 05:50 Meat Futures Set to Open New Week With Moderate Gains The cattle complex should open Monday moderately higher, supported by follow-through buying and technical possibilities. Lean hog issues should also begin with a firm undertone with the help of ideas of further cash strength and bull-spreading interest. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: 50-100 HR Live Equiv $140.61 - .46 Hogs: Steady-$1 HR Futures: 50-100 HR Lean Equiv $ 86.71 - .20** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Activity in cattle-feeding country will be limited to the distribution of new showlists. We expect ready numbers to be somewhat larger than last week. Asking prices should start out sharply higher, possibly around $130 plus in the South and $205 plus in the North. Live and feeder futures should open moderately higher, supported by follow-through buying and positive technical considerations.