DTN Early Word Opening Livestock 04/11 05:53
11 Apr 2018
DTN Early Word Opening Livestock 04/11 05:53 Live and Feeder Futures Are Likely to Open Moderately Lower The cattle complex seems set to open moderately lower, checked by struggling beef demand and cash uncertainty. Look for lean futures to begin on a mixed basis in slow and cautious volume. By John Harrington DTN Analyst Cattle: Steady-$2 LR Futures: 50-100 LR Live Equiv: $141.22 -1.04* Hogs: Stdy-$1 HR Futures: Mixed Lean Equiv $ 71.48 - .05** * 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 may start to show more interest Wednesday morning, although they may not surface with higher bids. On one hand, packers are relatively short bought. On the other hand, processors are nervous about sluggish product demand. Asking prices are around $120 in the South and $190 in the North. Significant trade volume could be delayed until Thursday or Friday. Live and feeder should open moderately lower, checked by lower cutouts and cash uncertainty.