DTN Early Word Opening Livestock 05/23 05:50
23 May 2018
DTN Early Word Opening Livestock 05/23 05:50 Meat Futures are Staged for a Mixed Opening at Midweek The cattle complex should open moderately higher, supported by follow-through buying and cash premiums. Lean hog issues are set to open lower, checked by residual selling interest and cash discounts. By John Harrington DTN Analyst Cattle: Steady-$2 HR Futures: 50-100 HR Live Equiv: $148.03 - .34* Hogs: Steady Futures: 50-100 LR Lean Equiv: $ 81.33 + .04** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: We should start to see the surfacing of cash cattle potential Wednesday (i.e., initial bids and asking prices). Yet it's possible that significant trade volume will not develop until Thursday or later. Live and feeder futures should open moderately higher, supported by follow-through buying and cash premiums.