DTN Early Word Opening Livestock 06/20 05:57
20 Jun 2018
DTN Early Word Opening Livestock 06/20 05:57 Meat Futures Set for Mixed Opening at Midweek The cattle complex should open with uneven price action thanks to follow-through buying on one hand and uncertain cash prospects on the other. Lean hog futures are also expected to open on a mixed basis, pressured by residual selling interest and constructive fundamentals. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 LR Futures: Mixed Live Equiv: $143.64 - .83* Hogs: Steady-$1 HR Futures: Mixed Lean Equiv: $ 89.98 + .30** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Look for cattle buyers to show more buying interest Thursday, but it remains to be seen if any of the Midwest noise will be attractive enough to trigger significant feedlot cooperation and significant trade volume. Showlists will probably be priced around $115 plus in the South and $183 plus in the North. Live and feeder futures should open on a mixed basis tied to a combination of follow-through buying and beef demand worries.