DTN Early Word Opening Livestock 12/17 06:26
17 Dec 2015
DTN Early Word Opening Livestock 12/17 06:26 Livestock Futures Geared for Mixed Opening Expect live and feeder futures to open on a mixed basis tied to carryover buying and long liquidation. Lean hog contracts should also begin with uneven price action with light trade volume. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 LR Futures: mixed Live Equiv $132.01 - 0.51* Hogs: $1 LR Futures: mixed Lean Equiv $ 77.64 - $1.98** * 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 the cash cattle business may be essentially complete in the South (i.e., light to moderate live sales reported in Kansas and Texas yesterday, $117 to $118, $1 to $2 lower), Northern buyers and sellers still have work to do, though Nebraska did score light biz at $184. Look for dressed bids to be renewed around $184, below asking prices close to $187-plus. Live and feeder futures seem likely to open mixed with light trade volume.