DTN Early Word Opening Livestock 03/05 06:01
5 Mar 2018
DTN Early Word Opening Livestock 03/05 06:01 Live and Feeder Contracts Staged for Mixed Opening The cattle complex should start the week on a mixed basis thanks to follow-through selling on one hand and short-covering tied to cash premiums on the other. Lean hog futures also seem likely to resume trading Monday with uneven price action in slow volume. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 LR Futures: Mixed Live Equiv $148.38 - .18* Hogs: Steady Futures: Mixed Lean Equiv $ 83.14 + .71** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Look for a typically slow Monday in cattle country with the distribution of showlists about the only order of business. We expect the early-month offering to be steady with last week. Feedlot managers will be slow to price cattle, carefully monitoring the board for clues in that regard. Live and feeder futures seem ready to open mixed thanks to a combination of residual selling interest and short-covering/profit-taking.