DTN Early Word Opening Livestock 12/08 05:58
8 Dec 2016
DTN Early Word Opening Livestock 12/08 05:58 Hog Paper Set to Open With Moderate Strength Expect lean hog contracts to open at least moderately higher, supported by follow-through buying and impressive late-year fundamentals. Live and feeder futures should open on a mixed basis as traders cautiously position ahead of cash potential. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: Mixed Live Equiv $126.43 - .98* Hogs: $1-2 HR Futures: 25-50 HR Lean Equiv $ 80.22 + .62** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Whether or not the cash cattle trade begins to develop Thursday may depend a great deal on how futures play and how such action impacts feedlot asking prices. Some showlists are priced around $115 in the South and $175 plus in the North. Live and feeder contracts seem likely to open on a mixed basis as specs and commercials position ahead of late-week cash.