DTN Early Word Opening Livestock 08/19 05:48
19 Aug 2015
DTN Early Word Opening Livestock 08/19 05:48 Livestock Futures Set for Mixed Midweek Opening Look for cattle contracts to open this morning on both sides of unchanged as traders jockey ahead of late week cash and Friday's release of the monthly on feed report. Lean hog futures are also likely to open mixed with nearbys possibly gaining on deferreds. By John Harrington DTN Analyst Cattle: Steady Futures: mixed Live Equiv $164.65 - 0.28* Hogs: Steady to $1 HR Futures: mixed Lean Equiv $ 95.15 + 0.55** * 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 could start to show some interest this morning by floating a few preliminary bids (e.g., $146-147 in the South, $232-233 in the North). Yet given firm asking prices around $152-153 in the South and $240-plus in the North, significant trade volume will probably be delayed until Thursday or Friday. Live and feeder futures seem set to open on a mixed basis thanks to follow-through selling and short covering.