DTN Early Word Opening Livestock 12/26 05:55
26 Dec 2018
DTN Early Word Opening Livestock 12/26 05:55 Look for a Slow and Mixed Return of Cattle Traders Following Christmas Hiatus The cattle complex is expected to resume business with mixed price action as traders assess late-year market potential. On the other hand, lean hog contracts seem set to open moderately lower Wednesday tied to spillover selling and defensive fundamentals. By John Harrington DTN Livestock Analyst Cattle: Steady Futures: Mixed Live Equiv: NA* Hogs: Steady-$1 LR Futures: 50-100 LR Lean Equiv: NA** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Packer inquiry and cattle-selling interest will slowly start to reassemble Wednesday, but we suspect real cash potential to be delayed until Thursday or Friday. Asking prices will probably start out around $121 plus on a live basis and $192 dressed. Specs and commercials will be eager to catch up on official market reports, which were generally suspended on Monday. Live and feeder futures are staged to open on a mixed basis in slow volume.