DTN Early Word Opening Livestock 09/06 05:55
6 Sep 2018
DTN Early Word Opening Livestock 09/06 05:55 Meat Futures Set for Mixed Opening Livestock futures should open on a mixed basis as bulls and bears anticipate late-week cash activity. Early-week business will be slow and choppy until more fundamentals are evident. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: Mixed Live Equiv: $19.41 -0.76* Hogs: Steady Futures: Mixed Lean Equiv: $72.88 - 0.65** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Cattle buyers should start to show more serious intentions Thursday. Look for opening bids around $105 to $107 on a live basis, well below asking prices of $110 to $112. Significant cash trade volume can easily be delayed until Friday. Live and feeders futures are geared to open mixed thanks to follow-though selling and pre-cash short-covering.