DTN Early Word Opening Livestock 05/14 05:58
14 May 2018
DTN Early Word Opening Livestock 05/14 05:58 Cattle Paper to Open Week Moderately Lower Live and feeder futures should open moderately lower, pressured by lower cash sales and ideas that beef cutouts are close to a seasonal top. Lean hog contracts seem set to open mixed with nearbys better supported than deferreds. By John Harrington DTN Analyst Cattle: Steady-$2 LR Futures: 50-100 LR Live Equiv: $149.67 - .25* Hogs: Steady-$1 HR Futures: Mixed Lean Equiv: $ 78.55 + .97** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Cash activity Monday morning will be limited to the distribution of new showlists. Ready numbers are likely to be larger, thanks to unsold cattle carried over and building totals of maturing fed calves. Live and feeder futures should open moderately lower, checked by defensive cash expectations and fears that beef demand may be close to a seasonal top.