DTN Early Word Opening Livestock 07/26 05:48
26 Jul 2018
DTN Early Word Opening Livestock 07/26 05:48 Lean Hog Contracts Set to Open at Least Moderately Higher Hog futures should open Thursday moderately higher, supported by follow-through buying and the premium of the cash index. Look for the cattle complex to begin with mixed prices thanks to a combination of residual buying and pre-cash long liquidation. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: Mixed Live Equiv: $136.28 - .13* Hogs: Steady-$1 LR Futures: 50-100 HR Lean Equiv: $ 83.72 + .25** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Cattle buyers and sellers should resume fighting positions in the early going with bids of $110 live/$175 to $177 dressed on one hand and asking prices of $115 to $116 live/$183 plus dressed on the other. It's certainly possible that significant trade volume will be delayed until Friday. Live and feeder futures are expected to open with mixed prices tied to residual buying and long liquidation.