DTN Early Word Opening Livestock 10/14 06:29
14 Oct 2015
DTN Early Word Opening Livestock 10/14 06:29 Cattle Futures Are Staged for Moderate Strength at Midweek Live and feeder futures seem set to open moderately higher, supported by bull spreading and higher beef cut-outs. Lean hog contracts should also trades some higher in the opening rounds thanks to cash strength evident on Tuesday. By John Harrington DTN Livestock Analyst Cattle: Higher Futures: 25-50 HR Live Equiv $141.25 + $1.88* Hogs : Steady to $1 HR Futures: 10-30 HR Lean Equiv $ 93.24 - 0.55** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: While a few preliminary bids should surface in cattle country this morning, it will be surprising if significant trade volume will surface before Thursday and Friday. Some showlists in the South have been priced around $135. CME officials announced no new deliveries on Tuesday with just one load retendered for $2. Live and feeder futures should open moderately higher, boosted by follow-through buying and surging beef prices.