DTN Early Word Opening Livestock 06/26 05:54
26 Jun 2018
DTN Early Word Opening Livestock 06/26 05:54 Look for Cattle Futures to Open at Least Moderately Lower Live and feeder contracts should open lower, pressured by follow-through selling and technical concerns. Lean hog futures are likely to open on a mixed basis as traders take profits and position ahead of the June 1 Hogs & Pigs report. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 LR Futures: 50-100 LR Live Equiv: $142.83 + .16* Hogs: Steady-$1 LR Futures: Mixed Lean Equiv: $ 91.76 + .80** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Most cattle market monitors expect a typically quiet Tuesday with bids and asking prices poorly defined. Live and feeder futures should open at least moderately lower thanks to residual selling interest, technical worries and beef demand concerns.