Lean Hog Paper Likely Open HigherLook for lean hog futures to open moderately higher this morning, supported by midweek short covering and improving carcass value. On the other hand, the cattle pits will probably start trading on a mixed basis thanks to cautious positioning ahead of more definitive cash and product news.
By John Harrington DTN Livestock Analyst
Cattle: Steady-$1 HR Futures: mixed Live Equiv $130.92 – 0.10* Hogs: Steady-0.50 HR Futures: 10-30 HR Lean Equiv $109.35 +$1.24** * 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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