DTN Early Word Opening Livestock 11/28 05:56
28 Nov 2018
DTN Early Word Opening Livestock 11/28 05:56 Meat Futures Staged for Mixed Opening at Midweek The cattle complex should be cautious on the opening with both buyers and sellers confused over late-week cash potential. Lean hog issues are likely to begin near steady thanks to fairly consistent fundamentals. By John Harrington DTN Analyst Cattle: Steady Futures: Mixed Live Equiv: $140.73 - .03* Hogs: Steady Futures: Mixed Lean Equiv: $ 73.12 + .05 ** * 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 it's possible that the cash fed trade could take on some definition at midweek, our guess is that serious students of the market won't learn much until Thursday or Friday. A few preliminary bids in parts of the North could be seen around $180. Live and feeder futures seem geared to open on a mixed basis in slow volume.