DTN Early Word Opening Livestock 07/10 05:55
10 Jul 2018
DTN Early Word Opening Livestock 07/10 05:55 Lean Futures Set to Open Moderately Lower Look for hog contracts to open lower, pressured by follow-through selling and further trade war worries. The cattle complex should open on a mixed basis, torn between residual selling and large cash premiums. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: Mixed Live Equiv: $137.84 - .34 * Hogs: Steady-$1 LR Futures: 50-100 LR Lean Equiv: $ 90.67 - .13** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Tuesdays typically don't count for much in terms of reflecting cash cattle potential, and there's little reason to anticipate anything different Tuesday. Bids and asking prices will remain largely hidden until midweek or later. Live and feeder futures seem likely to open on a mixed basis thanks to a combination of follow-through selling and large cash premiums.