DTN Early Word Opening Livestock 01/25 06:20
25 Jan 2017
DTN Early Word Opening Livestock 01/25 06:20 Lean Hog Futures Expected to Open Moderately Higher Look for hog futures to open moderately higher, supported by stronger carcass value and cash premiums. On the other hand, live and feeder contracts should open on a mixed basis as traders continue to position ahead of cash and on feed news. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: mixed Live Equiv $131.82 + 0.33* Hogs: Steady Futures: 25-50 HR Lean Equiv $86.71 + $2.06** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Preliminary bids in feedlot country could start to sprout at midweek, but it seems unlikely that producers will see anything that trips their trigger. Significant trade volume is not likely to surface before Thursday or Friday. Asking prices are not well defined, though we've seen a few Southern showlist priced around $125. Live and feeder futures should open on a mixed not as specs and commercial continue to cautious weigh further cash potential.