DTN Early Word Opening Livestock 06/12 06:00
12 Jun 2018
DTN Early Word Opening Livestock 06/12 06:00 Livestock Futures Staged to Open With Uneven Price Action The cattle complex should open on a mixed basis thanks to a combination of follow-through selling and short-covering. Hog paper is also expected to open on both sides of unchanged with nearby issues gaining ground on deferreds. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: Mixed Live Equiv: $145.65 - .41* Hogs: $1-2 HR Futures: Mixed Lean Equiv: $ 85.64 + .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: The odds are low that anything of significance will develop in the feedlot trade Tuesday. Rather, we're more likely to see a sleepy affair with bid and asking prices poorly defined. Live and feeder futures are set to open on a mixed basis with traders torn between residual selling interest on one hand and respect for cash premiums on the other.