DTN Early Word Opening Livestock 12/15 06:14
15 Dec 2015
DTN Early Word Opening Livestock 12/15 06:14 Cattle Futures Set for Follow-Through Selling Live and feeder contracts should open moderately lower, pressured by follow-through selling and signs of further beef weakness. Lean hog futures are likely to begin with mixed prices, lightly scrambled by residual selling and short-covering. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 LR Futures: 50-100 LR Live Equiv $133.16 - $1.34* Hogs: Steady Futures: mixed Lean Equiv $ 78.99 + 0.20** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: The cash cattle trade seems staged for another round of slow motion this morning with both bids and asking prices poorly defined. The new fed offering appears to be mixed, larger in Nebraska and Kansas; smaller in Texas and Colorado. Some asking prices are likely to start out around $121-plus in the South. Live and feeder futures should open moderately lower, checked by follow-through selling and fears of sluggish pre-Christmas beef demand.