DTN Early Word Opening Livestock 06/11 09:45
11 Jun 2018
DTN Early Word Opening Livestock 06/11 09:45 Look for Nearby Live Cattle to Gap Higher on Bullish Cash News Live and feeder futures are set to open significantly higher with June and August running to catch up with the feedlot trade. Lean hog contracts should also start out with a firm undertone thanks to improving seasonal fundamentals. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: Mixed Live Equiv: $146.33 - .22* Hogs: $1-2 HR Futures: 50-100 HR Lean Equiv: $ 84.22 + .79** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Feedlot country will be typically quiet Monday as packers limit their efforts to the collection of new showlists. It seems like a good bet that the fed offering will be steady to somewhat larger than last week. But it may be an even better bet that feedlot managers will not hesitate in pricing showlists another $2 to $3 higher. Live and feeder futures are staged to open substantially higher, supported by Friday's major surge in feedlot sales and technical buying.