Hog Contracts Staged for Opening Strength
The lean hog board should open moderately higher, supported by surging carcass value and the large premium of the cash index. Cattle futures are likely to start out mixed as traders slowly position ahead of late-week cash and on-feed news.
Cattle: Steady-$2 LR Futures: mixed Live Equiv $136.64 – 0.24* Hogs: Steady-0.50 HR Futures: 10-30 HR Lean Equiv $114.93 +$2.61** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue
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