Printable Page Market News   Return to Menu - Page 2 3 4 5 6 7 8 9 10
 
 
DTN Early Word Opening Livestock       11/24 06:14
   Cattle Futures Geared for Higher Opening

   Live and feeder contracts are likely to open with decent progress, supported
by cash premiums and follow-through buying. On the other hand, look for the
lean hog pit to being on a mixed basis tied to long liquidation and light bear
spreading.

By John Harrington
DTN Analyst



Cattle: Steady-$2 HR Futures: 50-100 HR Live Equiv $173.77 - 0.62*
Hogs: Steady Futures: mixed Lean Equiv $100.97 - 0.33**
* based on formula estimating live cattle equivalent of gross packer
** based on formula estimating lean hog equivalent of gross packer revenue

GENERAL COMMENTS:

   Even though the trading week will be shortened by Thursday's holiday, look
for the cash cattle market to start out in low gear. Activity today should be
typically limited to the distribution of new showlists. We expect the new
offering to be about steady with last week. Initial asking prices should be
around $175-176 in the South and $272-274 in the North. Buyers and sellers are
likely to try hard to complete marketing chores before breaking for turkey on
Thursday. Given greater packer spending on Friday, live and feeder futures seem
likely to open with solid prices this morning.
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