DTN Early Word Opening Livestock 05/22 05:51
22 May 2018
DTN Early Word Opening Livestock 05/22 05:51 Look for Cattle Futures to Open Mixed The cattle complex should open on a mixed basis tied to residual buying on one hand and long liquidation on the other. Lean hog issues are also likely to begin with mixed price action thanks to follow-through selling and signs of stronger carcass value. By John Harrington DTN Analyst Cattle: Steady-$2 LR Futures: Mixed Live Equiv: $149.01 - .77* Hogs: Steady Futures: Mixed Lean Equiv: $ 81.29 +2.19** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: The cash cattle trade is likely to put in a slow day with bids and asking prices poorly defined. Both buyers and sellers will be carefully monitoring the board for hints of cash potential going forward. Live and feeder futures should open on a mixed basis thanks to a combination of follow-through buying and long liquidation.