DTN Early Word Opening Livestock 12/11 05:52
11 Dec 2018
DTN Early Word Opening Livestock 12/11 05:52 Cattle Futures Likely to Open Moderately Higher Live and feeder contracts should open Tuesday with a firm undertone thanks to cutout strength and cash premiums. On the other hand, lean hog futures could begin on the defensive, checked by cautious fundamentals. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: 50-100 HR Live Equiv: $141.10 +0.54* Hogs: Steady-$1 LR Futures: 50-100 LR Lean Equiv: $77.46 -0.98** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Don't look for much action in feedlot country Tuesday as bids and asking prices remain poorly defined. The marketing window of 2018 is closing fast. Many veteran feedlot managers know all too well it can be tough to find shackle space in the last two weeks of December. Live and feeder futures should open moderately higher, supported by cash premiums and appreciating carcass value.