DTN Early Word Opening Livestock 11/03 06:10
3 Nov 2015
DTN Early Word Opening Livestock 11/03 06:10 Cattle Futures Seem Set to Open Moderately Higher Live and feeder contracts are staged to open moderately higher, supported by follow-though buying and ideas of cash stability. On the other hand, lean hog issues should begin with mixed prices thanks to a combination of residual selling and short-covering. By John Harrington DTN Livestock Analyst Cattle: Cash Steady-$2 HR Futures 25-50 HR Live Equiv $147.53 - .03* Hogs: Cash $1-$2 LR Futures Mixed Lean Equiv $83.93 + $1.36** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Expect little today in terms of significant business in the cash cattle arena. Indeed, neither bids nor asking prices are likely to be well defined. A few showlists in the South appear to be priced around $142-plus. Live and feeder futures should open moderately higher, supported by follow-through buying and technical strength.