Lean Hog Contracts Set for Lower Opening
Look for lean hog futures to begin moderately lower this morning, pressured by Wednesday’s large drop in carcass value and further profit taking. The cattle complex is also expected to open with softer price action tied to cash uncertainty and nervous beef demand.By John Harrington DTN Livestock Analyst
Cattle: Steady Futures: 10-30 LR Live Equiv $131.22 + 0.39* Hogs: Steady-0.50 HR Futures: 10-30 LR Lean Equiv $106.38 – $1.34** * 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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http://sweetfutures.com/2013/dtn-morning-comments-on-livestock-live-cattle-feeder-cattle-and-lean-hogs-3/
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