DTN Early Word Opening Livestock 06/04 05:56
4 Jun 2018
DTN Early Word Opening Livestock 06/04 05:56 Meat Futures Staged to Open New Week With Mixed Prices Cattle contracts should open Monday with moderate gains, supported by higher feedlot sales late Friday. On the other hand, lean hog issues are likely to open moderately lower, checked by the discounted cash market and softer carcass value. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: 50-100 HR Live Equiv: $147.17 - .17* Hogs: Steady-$1 HR Futures: 50-100 LR Lean Equiv: $ 81.51 -1.90** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Activity in feedlot country will be limited to the distribution of new showlists. We expect the early June offering to be somewhat larger than last week. Live and feeder futures seem likely to open moderately higher, supported by cash premiums and short-covering.