DTN Early Word Opening Livestock 10/15 05:52
15 Oct 2018
DTN Early Word Opening Livestock 10/15 05:52 Cattle Paper Staged to Open Mixed Live and feeder futures seemed geared to open on a mixed basis thanks to residual selling and early-week short-covering. Lean hogs should also begin with mixed price action with nearbys gaining on deferreds. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: Mixed Live Equiv: $135.75 + .08* Hogs: Steady-$1 HR Futures: Mixed Lean Equiv: $ 85.07 +1.45** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Feedlot country should start out Monday morning with the typical assortment of new showlists. Our guess is that ready numbers will be found to be about steady with last week. Early asking prices are likely to be around $112 to $114 in the South and $175 plus in the North. Live and feeder futures seem likely to open on a mixed basis thanks to follow-though selling and early-week short-covering.