DTN Early Word Opening Livestock 11/26 05:58
26 Nov 2018
DTN Early Word Opening Livestock 11/26 05:58 Meat Futures Set to Open With Post-Holiday Firmness The cattle complex should open moderately higher, supported by short-covering and late-year cash stability. Lean hog issues are also expected to open on a firm basis thanks to spillover buying and shifting retail demand back toward red meat. By John Harrington DTN Analyst Cattle: Steady-$1 HR Futures: 50-100 HR Live Equiv: $140.22 change NA* Hogs: Steady-$1 HR Futures: 50-100 HR Lean Equiv: $ 71.78 change NA** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Needless to say, cattle-buying activity Monday will be limited to the assessment of new showlists. We assume that late-month business will be characterized by both larger packer appetites and larger feedlot offerings. Live and feeder futures should open at least moderately higher, supported in part by recovering post-Thanksgiving beef demand.