DTN Early Word Opening Livestock 05/17 06:15
17 May 2017
DTN Early Word Opening Livestock 05/17 06:15 Hog Futures Staged to Open with Firm Undertone Look for lean hog contracts to open moderately higher, supported by follow-through buying and stronger carcass value. On the other hand, the cattle complex should begin some checked by residual selling interest and uncertain cash potential. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 LR Futures: 25-50 LR Live Equiv $162.50 + 0.09* Hogs: Steady-$1 HR Futures: 50-100 HR Lean Equiv $90.39 + $1.11** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Buying and selling interest could take shape at midweek, through much may depend upon the stability of cattle futures. Both sides will be closely monitoring FCE results. We'll post internet sales ASAP on the cash cattle page. Some showlists are priced around $138-140 in the South and $220-222 in the North. Live and feeder futures seem set to open some lower, pressured by follow-through selling and uncertain cash prospects.