DTN Early Word Opening Livestock 02/20 05:44
20 Feb 2018
DTN Early Word Opening Livestock 02/20 05:44 Mixed Trade Expected Tuesday Mixed trade is expected early in the complex through live cattle and lean hog futures. The focus on uncertainty in cash markets early in the week will leave volume light. By Rick Kment DTN Analyst Cattle: Steady Futures: $1 Higher Live Equiv $141.21 +0.29* Hogs: Steady to $1 Lower Futures: Mixed Lean Equiv $ 82.42 +0.29** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Firm support is expected across live cattle and feeder cattle futures early Tuesday morning as the focus on renewing buyer support developed across the complex. A combination of follow-through support and position-taking is likely to develop through the first couple hours of trade. Cash cattle activity is expected to remain undeveloped with late-week trade likely to be the main order of business. The focus on strong gains seen late last week will likely increase asking prices during the next few days.