DTN Early Word Opening Livestock 04/10 06:01
10 Apr 2017
DTN Early Word Opening Livestock 04/10 06:01 Cattle Futures to Open Moderately Higher Thanks in Part to Cash Premiums Live and feeder contracts should open moderately higher, supported by follow-through buying and the premium status of feedlot sales. On the other hand, lean hog futures seem likely to open with mixed prices in light volume. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 LR Futures: 25-50 HR Live Equiv $140.04 - .96* Hogs: Steady-$1 LR Futures: Mixed Lean Equiv $ 80.64 + 1.15** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Moderate cattle trading in Kansas and Texas finally surface late Friday at $126, $2 lower than the prior week. On the other hand, very little business developed in the North. It will be interesting to see Mandatory summaries later this week, but we expect to see the confirmation of small trade volume totals.