Tuesday, August 21, 2018   
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DTN Early Word Opening Livestock       08/21 05:49
   Meat Futures Set for Mixed Opening

   The cattle complex is likely to open with uneven price action thanks to
uncertainty surrounding late-summer beef supply and demand. Lean hog futures
should also open on a mixed basis as attention shifts from pre-Labor Day
fundamentals to speculation surrounding international trade, and back again.

By John Harrington
DTN Livestock Analyst



Cattle: Steady         Futures: Mixed   Live Equiv:   $141.13  +1.34*
Hogs:   Steady-$1 LR   Futures: Mixed   Lean Equiv:   $ 72.22  + .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 will remain quite limited Tuesday with both bids and
asking prices poorly defined. Our guess is that significant trade volume may
not develop until the second half of the week. Live and feeder cattle should
open on a mixed basis thanks to a combination of short-covering and long
liquidation.
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