DTN Early Word Opening Livestock 12/28 06:24
28 Dec 2017
DTN Early Word Opening Livestock 12/28 06:24 Livestock Futures Ready for Mixed Opening Look for the cattle complex to open Thursday morning on a mixed basis as traders jockey positions ahead of cash news. Lean hog futures should also begin with uneven price action. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: mixed Live Equiv $134.85 - 0.48* Hogs: Steady-$1 HR Futures: mixed Lean Equiv $82.30 + 0.34** * 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 buying interest should start to take some form Thursday morning. Yet it's a good bet that opening bids will remain far below asking prices of $124-plus in the South and $195-plus in the North. Accordingly, significant trade volume could be delayed until sometime Friday, especially if the board remains relatively firm. Live and feeder futures should start out with mixed prices as specs and comercials cautiously posture before the development of cash news.