Printable Page Market News   Return to Menu - Page 2 3 4 5 6 7 8 9 10
DTN Early Word Opening Livestock       05/06 05:59
   Cattle Futures Staged for Higher Opening

   Live and feeder contracts are geared to open moderately higher, supported by
follow-through buying, technical strength, and ideas of cash stability. Lean
hog issues should also open on a firm basis thanks to late-week short-covering
and steadily improving fundamentals.

By John Harrington
DTN Livestock Analyst

Cattle: Steady         Futures: 25-50 HR   Live Equiv $137.69  - .14*
Hogs:   Steady-$1 HR   Futures: 10-30 HR   Lean Equiv $ 88.12  + .66**

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


   While cattle buying energy may take some time to focus Friday, we should see
moderate trade volume in most feeding areas by the end of the day. Packers are
both well-margined and relatively short bought, two factors that could generate
near steady country sales when everything is said and done. Asking prices are
around $126 to $127 in the South and $196 to $198 in the North. Live and feed
futures are expected to open moderately higher, boosted by spillover buying and
technical strength.
Get your local Cash Bids emailed to you each morning from DTN – click here to sign up for DTN Snapshot.
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN