DTN Early Word Opening Livestock 09/05 05:55
5 Sep 2018
DTN Early Word Opening Livestock 09/05 05:55 Livestock Contracts Should Open Moderately Higher The cattle complex seems geared to open moderately higher, supported by follow-through buying and ideas of firm cash. Lean hog futures should also start out with a firm undertone thanks to stabilizing post-holiday fundamentals. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: 50-100 HR Live Equiv: $140.17 + .67* Hogs: Steady Futures: 50-100 HR Lean Equiv: $ 73.53 +1.39 ** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: While feedlot country could start to field more bids and asking prices, our guess is that significant trade volume will not develop until Thursday or Friday. Live and feeder futures should open moderately higher, supported by residual buying and more positive fundamentals.