DTN Early Word Opening Livestock 08/17 06:01
17 Aug 2016
DTN Early Word Opening Livestock 08/17 06:01 Livestock Futures Staged for Lower Opening at Midweek Live and feeder issues are set to open moderately lower, pressured by spillover selling and uninspiring fundamentals. Lean hog contracts also seem geared to begin on the defensive thanks to negative momentum and renewed technical selling. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: 25-50 LR Live Equiv $136.02 - .30* Hogs: Steady Futures: 25-50 LR Lean Equiv $ 79.45 -2.51** * 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 cattle buying interest could take on greater definition Wednesday, our guess is that significant country business will be delayed until Thursday or Friday. Asking prices are around $120 to $122 in the South and $190 to $192 in the North. Live and feeder futures are likely to open moderately lower, checked by follow-through selling and uncertain cash prospects.