DTN Early Word Opening Livestock 08/09 05:17
9 Aug 2018
DTN Early Word Opening Livestock 08/09 05:17 Lean Hog Futures Remain Trapped in a Bearish Quagmire Hog futures seem set to open significantly lower, further pressured by struggling fundamentals. The cattle complex should begin some higher with the help of follow-through buying and cash premiums. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: 50-100 HR Live Equiv: $137.15 + .18* Hogs: $1-2 LR Futures: 100-200 LR Lean Equiv: $ 76.02 -1.08** * 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 the cash cattle trade to take on greater definition Thursday, both in terms of bids and asking prices. Look for buyers to start out around $110 on a live basis, which is about $5 under asking prices. Live and feeder futures seem set to open some higher as specs and producers anticipate cash strength by week's end.