DTN Early Word Opening Livestock 03/15 06:03
15 Mar 2017
DTN Early Word Opening Livestock 03/15 06:03 Livestock Paper Likely To Open Midweek Business With Steady Prices Look for the cattle complex to begin this morning with mixed price action thanks to a combination of follow-through selling and pre-cash short covering. Lean hog contracts should also open with uneven prices, narrowly scattered by residual buying interest and profit taking. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: mixed Live Equiv $148.96 + 0.22* Hogs: Steady-$1 HR Futures: mixed Lean Equiv $88.19 + 0.40** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: The focus of cattle buyers could start to sharpen at midweek. After all, they appear to be both well-margined and short bought. At the very least, we expected bids and asking prices to take on better definition. Regarding the latter, we believe asking prices will be posted around $128-plus in the South and $204-plus in the North.