DTN Early Word Opening Livestock 12/14 05:37
14 Dec 2018
DTN Early Word Opening Livestock 12/14 05:37 Cattle Paper Open Mixed Tied to Uncertain Friday Cash Magic Live and feeder contracts are likely to open cautiously mixed as traders consider the likelihood of late-week cash strength. Lean hog issues should also begin with uneven price action as spot December prepares to expire. By John Harrington DTN Analyst Cattle: Steady-$2 HR Futures mixed. Live Equiv: $139.79 - 0.23* Hogs: Steady Futures: mixed Lean Equiv $77.98 +0.73** * 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 traders have arrived back on a Friday with cash business undecided. Look for that question to be answered by late this afternoon. If recent history provides a reliable clue, the fed market will print. closer to asking prices ($121-122/$190) than bids ($115/$185-187). But time wiill tell. Live and feeder futures should open on a mixed basis thanks to a combo of short covering and slow long liquidation as traders position ahead of actual cash news.