DTN Early Word Opening Livestock 11/30 05:55
30 Nov 2017
DTN Early Word Opening Livestock 11/30 05:55 Hog Futures Set for Moderately Higher Recovery Lean hog contracts should open moderately higher, supported by short-covering and positive fundamentals. The cattle complex is likely to open on a mixed basis as traders position ahead of cash news. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: Mixed Live Equiv $135.54 - 1.16* Hogs: Steady-$1 HR Futures: 50-100 HR Lean Equiv $ 88.80 + 1.22** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Look for cattle-buying interest to slowly take shape Thursday with starter bids around $117 to $118 in the South and $190 in the North. Asking prices should be floated around $121 to $122 in the South and $193 to $195 in the North. Needless to say, it will help country leverage if the board stays firm. Significant trade volume could easily be delayed until sometime Friday.