DTN Early Word Opening Livestock 10/25 05:59
25 Oct 2017
DTN Early Word Opening Livestock 10/25 05:59 Livestock Futures Staged for Firm Midweek Opening Look for the cattle complex to open at least moderately higher, supported by follow-through buying and technical strength. Lean hog futures should also open on a firm basis thanks to residual buying and stronger carcass value. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: 50-150 HR Live Equiv $134.38 + 0.75* Hogs: Steady-$1 HR Futures: 50-100 HR Lean Equiv $81.64 + 0.66** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Cattle buyers should begin to kick a few tires this morning, floating preliminary bids here and there just to get in line for ready cattle. Both sides will be monitoring internet sales and further action on the board. Significant trade volume is not expected to surface until Thursday and/or Friday. CME officials announced the posting of 16 loads against spot October live, all in West Point. Live and feeder futures should open on a firm basis thanks to a combo of residual buying interest and cash optimism.