DTN Early Word Opening Livestock 03/06 09:18
6 Mar 2018
DTN Early Word Opening Livestock 03/06 09:18 Livestock Futures Set to Open Moderately Higher Lean hog futures should open Tuesday morning moderately higher, supported by follow-through buying and stronger carcass value. The cattle complex should also resume trading on a firm basis thanks to residual buying interest and the premium status of recent feedlot sales. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 LR Futures: 50-100 HR Live Equiv $148.70 + 0.32* Hogs: Steady Futures: 50-100 HR Lean Equiv $ 84.65 + $1.51** * 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 quiet Tuesday as buyers and sellers cautiously assess this week's developing cash/board relationship. Our guess is that situation will remain ambiguous enough until midweek or later. Accordingly, bids and asking prices could be slow to surface. Live and feeder should open moderately higher thanks to follow-through buying and ideas of cash stability.