DTN Early Word Opening Livestock 10/19 05:53
19 Oct 2018
DTN Early Word Opening Livestock 10/19 05:53 Hog Paper to Open Significantly Lower Lean hog futures are expected to open under pressure thanks to defensive fundamentals. On the other hand, look for live and feeder cattle futures to open on a mixed basis as traders jockey ahead of the Oct. 1 Cattle on Feed report. By John Harrington DTN Livestock Analyst Cattle: Steady-$1 LR Futures: Mixed Live Equiv: $135.75 +1.16* Hogs: Steady-$1 LR Futures: 50-100 LR Lean Equiv: $ 83.15 - .40* * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: The cash cattle trade should be completed through the day with southern buyers and sellers looking for compromise between $111 and $114. The Oct. 1 Cattle on Feed report will be released Friday at 2 p.m. CT. Generally speaking, USDA numbers are expected to be bearish as feedlot numbers swell compared to 2017.