DTN Early Word Opening Livestock 08/16 05:53
16 Aug 2018
DTN Early Word Opening Livestock 08/16 05:53 Lean Hog Issues Should Open Moderately Lower Look for lean hog futures to open lower, checked by long liquidation and struggling carcass value. Cattle futures seem set to open on a mixed basis thanks to short-covering and cash premiums. By John Harrington DTN Livestock Analyst Cattle: Steady-$1 HR Futures: Mixed Live Equiv: $139.12 - .05* Hogs: $1 LR Futures: 50-100 LR Lean Equiv: $ 73.60 -1.25** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Beef packer inquiry should slowly improve Thursday with opening bids around $108 live and $173 dressed. Yet look for the early effort to still come up short vis-a-vis asking prices of $112 to $114 in the South and $178 plus in the North. Yes, significant trade volume could once again be delayed until sometime Friday. Live and feeder futures are expected to open mixed Thursday thanks to short-covering on one hand and cash premiums on the other.