DTN Early Word Opening Livestock 11/12 07:12
12 Nov 2018
DTN Early Word Opening Livestock 11/12 07:12 Cattle Looking for Support Cattle and feeder prices will do well to find some semblance of support this week after breaking fresh lows on the futures board last week. Hogs on the other hand, continue to experience high slaughter levels, but are holding sideways for now. By Todd Hultman DTN Analyst Cattle: Steady to $1 lower Futures: Mixed Live Equiv: $140.61 -0.37* Hogs: Steady to $1 lower Futures: Mixed Lean Equiv: $ 75.18 -1.34** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Coming off of a week in which cattle and feeder futures prices broke to new lows and cash cattle were steady to $2 lower, prices will be looking for some form of support this week ahead of next week's Thanksgiving holiday. This week's showlist is likely to be a little larger than last week.