DTN Early Word Opening Livestock 04/25 05:57
25 Apr 2017
DTN Early Word Opening Livestock 04/25 05:57 Hog Futures Set to Open Moderately Higher Look for lean hog issues to open moderately higher, supported by follow-through buying and bottom-picking interest. The cattle complex is geared to begin with mixed prices thanks to residual selling and short-covering. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: Mixed Live Equiv $146.05 +.47 * Hogs: Steady Futures: 50 -100 HR Lean Equiv $79.84 - .98** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Feedlot country should be generally quiet Tuesday as bids and asking prices remain poorly defined. Both sides are understandably wondering if Monday's board crash was just a one-trick pony or a significant sign regarding a market top. Live and feeder futures seem staged for a mixed opening tied to a combination of follow-through selling and short-covering.