Printable Page Market News   Return to Menu - Page 2 3 4 5 6 7 8 9 10
 
 
DTN Early Word Opening Livestock       02/10 06:00
   Lean Hog Issues Staged to Open Moderately Higher at Midweek

   Hog futures are expected to open moderately higher Wednesday, supported by
bullish fundamentals and technical buying. The cattle complex is geared to
begin with mixed prices tied to a combination of follow-through selling and
pre-cash short-covering.

By John Harrington
DTN Livestock Analyst



Cattle: Steady         Futures: Mixed      Live Equiv $146.65  - $1.07*
Hogs:   Steady-$1 HR   Futures: 10-30 HR   Lean Equiv $ 81.37  + $0.21**

 * based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue

GENERAL COMMENTS:

   Depending upon the exact short-bought status of cattle buyers, packer
inquiry could start to take on greater definition Wednesday. Look for opening
bids to be around $132 in the South and $208 in the North. On the other hand,
asking prices should be around $138 in the South and $215 in the North.
Significant trade volume could be delayed until Thursday or Friday. No delivery
interest was reported Tuesday afternoon. Live and feeder futures are geared to
open on a mixed basis, linked to both long liquidation and short-covering.
For more free DTN information sent right to your email each morning - click here to sign up for DTN Snapshot.
 
 
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN