DTN Early Word Opening Livestock 12/14 06:01
Lean Hog Futures Staged for Defensive Opening
Lean hog contracts should open lower, pressured by long liquidation and
struggling carcass value. On the other hand, cattle complex futures seem likely
to open on a mixed basis as traders position ahead of cash news.
By John Harrington
DTN Livestock Analyst
Cattle: Cash Steady Futures Mixed Live Equiv $133.88 - .83*
Hogs: Cash $1 to $2 LR Futures 100-200 LR Lean Equiv $81.78 - $4.61**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Cash cattle potential should start to take greater shape this morning with
starter bids around $115 in the South and $184 to $186 in the North. Some
showlists seem to be priced around $119 to $120 in the South and $188 to
$190-plus in the North. Significant trade volume could easily be delayed until
Friday. Look for live and feeder futures to begin with mixed price action as
specs and commercials cautiously watching for the development of feedlot news.
For more free DTN information sent right to your email each morning - click here
to sign up for DTN Snapshot.