DTN Early Word Opening Livestock 10/29 06:00
29 Oct 2018
DTN Early Word Opening Livestock 10/29 06:00 Cattle Contracts to Open Bullish on Late-Week Spending Live and feeder futures are staged for significantly higher spending Monday thanks to impressive feedlot gains scored on Friday. Lean hog issues should also open on a firm basis in the early rounds tied to late-week cash strength. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures 100-200 HR Live Equiv: $139.80 +0.22* Hogs: Mixed Futures: 50-100 HR Lean Equiv: ___FCKpd___0nbsp;81.59 -0.59** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Activity in feedlot country should be typically quiet, restricted to the assessment of new showlists. Our guess is that late-month ready numbers will be about steady with last week. It's a sure bet that beef producers will be eager to price fed cattle higher based upon Friday's late-cash success. The cattle board Monday should open significantly higher, supported by late October cash strength and technical buying interest.