DTN Early Word Opening Livestock 08/01 05:58
1 Aug 2018
DTN Early Word Opening Livestock 08/01 05:58 Meat Futures Staged at Midweek to Open With Mixed Prices The cattle complex should open with uneven price action in slow pre-cash volume. Lean hog futures should also open on a mixed basis with nearbys losing more ground to deferreds. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: Mixed Live Equiv: $136.22 - .07* Hogs: $1-2 LR Futures: Mixed Lean Equiv: $ 79.10 - .49** * 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 buying interest could start to improve at midweek with more starter bids of $110 in the face of asking prices around $115. Yet significant trade volume could easily be delayed until the second half of the week. Look for live and feeder futures to open on a mixed basis with nearbys better supported than deferreds.