Printable Page Market News   Return to Menu - Page 2 3 4 5 6 7 8 9 10
DTN Early Word Opening Livestock       07/18 05:35
   Livestock Futures Are Set to Open Mixed at Midweek

   Expect lean hog contracts to begin in a mixed basis thanks to a residual of
selling on one hand and short covering on the other. The cattle complex shoulld
also begin with uneven price action tied to follow-through selling and the
premium status of recent feedlot sales.

By John Harrington
DTN Livestock Analyst

Cattle: Steady        Futures: mixed   Live Equiv: $136.05 + 0.54*
Hogs:   Steady-$1 LR  Futures: mixed   Lean Equiv  $ 89.38 + 0.83**

* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue


   Cash cattle potential should start to take shape this morning with the
preliminary surfacing of a few bids and asking prices. Our guess is that asking
prices will start out around $114-plus in the South and $176-178 dressed in the
North. Significant trade volume could easily be delayed until Thursday or
Friday. Live and feeder contracts are staged to open on a mixed. basis thanks
to a combo of follow-through selling and midweek short covering.
Your local weather forecast from DTN can be sent to your email every morning free through DTN Snapshot.
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN