DTN Early Word Opening Livestock 01/02 05:55
2 Jan 2019
DTN Early Word Opening Livestock 01/02 05:55 Cattle Futures Set to Open New Year Moderately Higher Look for live and feeder futures to open on a firm basis, supported by higher cutouts and extended cash strength. Lean hog contracts seem likely to open on a mixed basis as traders cautiously assess early January fundamentals. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures 50-100 HR Live Equiv: $143.36 +1.15* Hogs: Steady-$1 LR Futures: Mixed Lean Equiv: $ 74.92 - .27** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: The cash cattle trade will step into 2019 in low gear with bids and asking prices poorly defined. Barring major weather events, we suspect the timing of feedlot cash will remain in the Thursday/Friday groove, just as seen through much of the fourth quarter. Live and feeder futures should open moderately higher, supported by recent country strength and signs of beef demand strength.