DTN Early Word Opening Livestock 05/15 06:01
15 May 2017
DTN Early Word Opening Livestock 05/15 06:01 Meat Futures Set to Open With Firm Undertone Look for the cattle complex to open higher, supported by follow-through and cash premiums. Similarly, lean hog contracts should begin with a firm undertone thanks to improving fundamentals. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 LR Futures: 50-100 HR Live Equiv $161.99 + .03 Hogs: Steady-$1 HR Futures: 50-100 HR Lean Equiv $ 88.60 + 1.48 * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Has the cattle market established a seasonal top? If so, are we now set to watch the country trade steadily slide lower in the weeks ahead? Are current futures excessively anticipating such a slide? All of these questions and more stand to rock the market one way or the other through the balance of May. It stands to be an interesting late spring (to say the least).