DTN Early Word Opening Livestock 09/19 06:07
19 Sep 2017
DTN Early Word Opening Livestock 09/19 06:07 Cattle Futures Staged for Moderately Higher Opening Look for the cattle complex to open higher, supported by follow-through buying and recent cash strength. Hog paper should open on a mixed basis tied to short-covering and long liquidation. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: 25-50 HR Live Equiv $130.74 + .92* Hogs: $1 LR Futures: Mixed Lean Equiv $ 83.36 + .33** * 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 cash cattle trade will remain in dry-dock Tuesday with both bids and asking prices poorly defined. Barring a big break in the board, significant trade volume will probably be delayed until the second half of the week. Live and feeder futures should open moderately higher, supported residual buying and stabilizing fundamentals.