DTN Early Word Opening Livestock 01/12 05:51
12 Jan 2018
DTN Early Word Opening Livestock 01/12 05:51 Lean Hog Paper Set for Moderately Lower Opening Hog futures seem set to open moderately lower, pressured by follow-through and long liquidation. The cattle complex should open on a mixed basis with feeders losing more ground to their live counterparts. By John Harrington DTN Livestock Analyst Cattle: Steady/Weak w/Tues Futures: Mixed Live Equiv $141.03 - .31* Hogs: Steady Futures: 25-50 LR Lean Equiv $ 84.23 - .41** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Given the strange timing of this week's cash cattle trade, we feel quite confident in saying that feedlot trade is done for the week. Isolated clean-up deals are possible, but price levels are certainly set. Live and feeder futures should open on a mixed basis with live issues likely to be better supported than feeder contracts.