DTN Early Word Opening Livestock 03/08 05:56
8 Mar 2018
DTN Early Word Opening Livestock 03/08 05:56 Hog Futures Set to Open Under Further Pressure Lean hog contracts should open significantly lower, pressured by imploding carcass value and technical selling. Live and feeder futures are likely to open on a mixed basis as traders position ahead of cash news. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: Mixed Live Equiv $149.04 - .08* Hogs: Steady-$1 LR Futures: 100-200 LR Lean Equiv $ 79.74 -3.21** * 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 could start making more noise Thursday, perhaps not in terms of higher bids but in more efforts close to steady with last week. Look for $126 bids to be renewed on a live basis, $203 to $204 dressed. Most showlists will be priced around $128 in the South and $205 plus in the North. Live and feeder futures should open narrowly mixed as traders wait for more clues regarding cash potential.