DTN Early Word Opening Livestock 06/22 07:49
22 Jun 2016
DTN Early Word Opening Livestock 06/22 07:49 Mixed Trade Expected Early Wednesday Mixed trade is expected across lean hog futures early Wednesday morning following aggressive buyer support which developed in feeder cattle markets Tuesday. The focus on eroding grain markets continues to keep traders' attention. By Rick Kment DTN Analyst Cattle: Cash Lower Futures Mixed Live Equiv $143.90 - 0.84* Hogs: Cash Steady-$1 HR Futures Mixed Lean Equiv $93.93 + ___FCKpd___0.60** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Light cattle trade developed late Tuesday through the South, but it is likely not enough to set the tone of the market. The overall lack of support through the complex coming from the sharp decline in the corn markets could help to spark additional widespread activity through the last half of the week. Most of the cash business is expected to take place Thursday or Friday, but prices are likely to remain lower than last week's average.