DTN Early Word Opening Livestock 12/16 06:11
16 Dec 2015
DTN Early Word Opening Livestock 12/16 06:11 Meat Futures Set for Mixed Midweek Opening Look for cattle complex to open on a mixed basis thanks to spillover buying on one hand and profit-taking on the other. Hog futures are also set to open with uneven price action with nearby issues lower and deferred some higher. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 LR Futures: mixed Live Equiv $132.52 - 0.64* Hogs: Steady Futures: mixed Lean Equiv $ 79.62 + 0.63** * 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 buying interest should be light to moderate this morning with bids renewed at $117 to $118 in the South and $183 to $184 in the North. Asking prices are likely to be around $122 in the South and $190-plus in the North. Significant trade volume could easily be delayed until Thursday or Friday. Live and feeder futures seem geared to open on a mixed basis as traders jockey ahead of cash potential.