Printable Page Market News   Return to Menu - Page 2 3 4 5 6 7 8 9 10
DTN Early Word Opening Livestock       01/28 06:03
   Cattle Pits Staged for Steady/Firm Opening

   Look for cattle futures to open moderately higher, supported by spillover
buying and recent cash premiums. On the other hand, lean hog issues should
begin on a mixed basis thanks to a combination of short covering and
uninspiring fundamentals.

By John Harrington
DTN Analyst

Cattle:  Steady to $2 LR  Futures: 10-30 HR  Live Equiv $169.38 - $2.60*
Hogs:    Steady to $1 LR  Futures: mixed     Lean Equiv $ 87.20 - $2.86**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue


   Cattle-buying interest could start to take shape this morning with a few
preliminary bids surfacing in several areas. Yet we really don't expect to see
significant trade volume develop until sometimes Thursday or Friday. Asking
prices should be posted around $162-plus in the South and $260-plus in the
North. Live and feeder contracts should open moderately higher, supported by
follow-through buying and the premium status of feedlot sales.
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