DTN Early Word Opening Livestock 08/24 06:06
24 Aug 2017
DTN Early Word Opening Livestock 08/24 06:06 Livestock Futures Seem Set for Further Losses on Opening The cattle complex should open moderately lower, checked by follow-through selling and talk of lower feedlot sales. Lean hog futures are also likely to open lower thanks to residual selling and faltering wholesale pork demand. By John Harrington DTN Livestock Analyst Cattle: $1-3 LR Futures: 50-100 LR Live Equiv $131.25 - .58* Hogs: $1-2 LR Futures: 50-100 LR Lean Equiv $ 93.43 -1.21** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Cautious cattle buying interest should slowly build Thursday and/or Friday. Opening bids Thursday should start out around $106 to $107 in the South and $172 to $173 in the North. Look for asking prices to be restated around $108 to $110 in the South and $175 plus in the North. Live and feeder futures should open moderately lower, pressured by bearish momentum and defensive fundamentals.