DTN Early Word Opening Livestock 10/03 06:09
3 Oct 2018
DTN Early Word Opening Livestock 10/03 06:09 Light Trade Expected Early Wednesday Limited trade in a mixed price range is expected midweek as traders focus on what could be a choppy market shift through the end of the week. This may leave many traders on the sidelines watching not only livestock fundamentals, but outside markets. By Rick Kment DTN Analyst Cattle: Steady Futures: Firm Live Equiv $135.47 -0.14* Hogs: Steady Futures: Mixed Lean Equiv $ 85.45 -0.57** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Cash-cattle activity is expected to still remain sluggish through most of the day Wednesday, although packers are expected to show slightly more interest as the day continues. It is likely that active sales will be delayed until Thursday or Friday sometime. Futures are expected to remain mixed with the late-day support on Tuesday drawing some limited support, although the overall tone of the market remains firm following contracts moving through resistance levels.