DTN Early Word Opening Livestock 12/20 05:54
20 Dec 2017
DTN Early Word Opening Livestock 12/20 05:54 Livestock Futures Set to Open Mixed at Midweek The cattle complex should open cautiously mixed as traders jockey ahead of cash and on feed news. Lean hog issues are also likely to begin Wednesday with uneven price action tied to slow volume and position ahead of the Dec. 1 Hogs & Pigs report. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: Mixed Live Equiv $133.24 -- .70* Hogs: Steady Futures: Mixed Lean Equiv $ 81.55 + .41** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Cash cattle potential and expectation could take on more shape Wednesday. Opening bids should be around $115 to $116 in the South and $188 to $189 in the North. Showlists seem to be priced around $193 to $195 in the North and $122 plus in the North. We do believe buyers and sellers would like to complete marketing chores this week as soon as possible. That could mean bids and asking prices somehow come together by Thursday. Live and feeder futures seem staged to open on a mixed basis as specs and commercials position ahead of cash business and on feed news.