DTN Early Word Opening Livestock 10/18 05:55
18 Oct 2018
DTN Early Word Opening Livestock 10/18 05:55 Brace for Lower Price Action in Opening Hog Futures Hog futures are staged to open substantially lower, checked by large country offerings and struggling pork demand. The cattle complex should begin with mixed price action as traders jockey ahead of late-week cash potential. By John Harrington DTN Livestock Analyst Cattle: Steady-$1 LR Futures: Mixed Live Equiv: $134.59 - .37* Hogs: Steady-$1 LR Futures: 50-100 LR Lean Equiv: $ 83.55 -2.35** * 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 activity could increase Thursday with opening bids around $172 to $174 in the South and $111 in the North. Asking prices should be restated around $175 in the South and $114 plus in the North. Yet significant trade volume could easily be delayed until Friday.