DTN Early Word Opening Livestock 09/04 06:07
4 Sep 2018
DTN Early Word Opening Livestock 09/04 06:07 Live and Feeder Futures Seem Set to Open Moderately Lower The cattle complex should open lower Tuesday, pressured by lower cash sales late Friday and struggling beef demand. On the other hand, lean hog issues seem likely to open mixed with nearbys losing on their deferred counterparts. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 LR Futures: 50-100 LR Live Equiv: $139.50 - $1.01* Hogs: Steady-$1 LR Futures: Mixed Lean Equiv: $ 72.14 + 0.38** * 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 cattle buyers to be slow in getting back on track after the long holiday weekend. Tuesday's activity will be limited to the distribution of new showlists. We expect ready numbers to be somewhat larger than last week. Light-to-moderate cash activity reluctantly surfaced late Friday (i.e., dressed at $170 in the North, $3 lower; $107, $2 lower). Live and feeder futures should open moderately lower, checked by softening fundamentals.