DTN Early Word Opening Livestock 11/10 05:48
10 Nov 2017
DTN Early Word Opening Livestock 11/10 05:48 Meat Futures Likely to Open with Mixed Prices Live and feeder contracts are set to open with uneven price action thanks to a combo of late-week short covering and long liquidation. Lean futures should also begin on a mixed basis as traders jockey ahead of uncertain late-year fundamentals. By John Harrington DTN Livestock Analyst Cattle: Steady w/midweek Futures: mixed Live Equiv $140.57 - 0.32* Hogs: Steady-$1 LR Futures: mixed Lean Equiv $ 86.52 + 0.65** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Assuming that the cash cattle trade was essentially put to be by Wednesday, late week activity this morning should be extremely limited. We could be a few clean-up deals here and there, but don't expect see much. Whatever steers and heifers remain on show lists are probably priced around $125-plus in the South and $195-plus in the North. Live and feeder futures are staged to open on a mixed basis in slow trade volume.