DTN Early Word Opening Livestock 08/30 06:00
30 Aug 2018
DTN Early Word Opening Livestock 08/30 06:00 Livestock Paper Staged to Open With Mixed Prices Expect the cattle complex to begin with slow, uneven price action as traders cautiously await the surfacing of cash news. Lean hog futures should also open on a mixed basis as bulls and bears carefully monitor late-month fundamentals. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: Mixed Live Equiv: $141.18 - .16* Hogs: Steady Futures: Mixed Lean Equiv: $ 69.69 - .22** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Our guess is that cattle traders will try to stir the pot hard enough Thursday to get sufficient business completed and then break for a long holiday weekend. Maybe not. Look for packer bids to open around $106 on a live basis and $170 dressed. On the other hand, asking prices are around $111 to $112 live and $175 plus dressed. Live and feeder futures are expected to open on a mixed basis as specs and commercials bide time waiting for cash news to develop.