DTN Early Word Opening Livestock 02/13 05:52
13 Feb 2017
DTN Early Word Opening Livestock 02/13 05:52 Meat Prices Set to Open Week With Mixed Prices Look for cattle futures to open on a mixed basis thanks to a combination of residual selling and early-week short-covering. Lean hog contracts should also begin with uneven price action tied to bull-spreading and profit-taking. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: Mixed Live Equiv $129.69 - .39* Hogs: Steady-$1 HR Futures: Mixed Lean Equiv $ 90.44 + .41** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Activity in feedlot country will be limited Monday morning to the distribution of new showlists. We suspect the new offering will be somewhat larger than last week thanks to carryover numbers from last week. Preliminary asking prices should start out around $122 in the South and $192 in the North. Live and feeder futures should open on a mixed basis thanks to follow-through selling and short-covering on the other.