DTN Early Word Opening Livestock 08/20 05:54
20 Aug 2018
DTN Early Word Opening Livestock 08/20 05:54 Lean Hog Futures Seem Set to Open Moderately Higher Hog contracts should open on a firm note that could lead to follow-through buying and positive talk of potential progress in addressing the U.S./China trade. The cattle complex seems likely to be moderately lower, pressured by long liquidation and lower cash sales on Friday. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: 50-100 LR Live Equiv: $139.79 + .83* Hogs: Steady-$2 LR Futures: 50-100 HR Lean Equiv: $ 71.81 - .93** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Activity in feedlot country will be typically limited to the distribution of new showlists. We expect ready numbers to be mixed, smaller in the North and larger in the South. Live and feeder futures should open moderately lower, checked by softer feedlot sales on Friday (I.e., $110 to $110.50 in the South; $173 in the North) and long liquidation.