Printable Page Market News   Return to Menu - Page 2 3 4 5 6 7 8 9 10
DTN Early Word Opening Livestock       09/02 06:13
   Cattle Paper Geared to Open Moderately Lower

   Live and feeder contracts should open moderately lower, pressured by
follow-through selling and struggling cut-outs. Look for the lean hog market to
start out out on a mixed basis thanks to various spreading strategies and
midweek profit taking.

By John Harrington
DTN Analyst

Cattle:  Steady to $2 LR   Futures: 10-30 LR   Live Equiv $161.74 - 0.80*
Hogs:    Steady to $1 LR   Futures: mixed      Lean Equiv $ 90.99 + 0.33**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue


   Needless to say, psychology in the cattle market is off to a rough start
this week thanks to struggling live and feeder futures. Opening bids are likely
to remain lackluster, probably around $143-144 in the South and $222-224 in the
North. Showlists should be priced around $148 in the South and $230-plus in the
North. Look for live and feeder to open moderately lower, checked by residual
selling and nervous cash prospects.
No other Daily email offers as much useful Ag information as DTN Snapshot – Sign up Free today!
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN