DTN Morning Comments on Livestock

Hog Contracts Set to Open Moderately Higher

The lean hog pit should start moderately higher, supported by short covering and ideas that Monday’s sell-off was overdone. Expect cattle futures to open on a mixed basis with traders split between residual buying and beef demand nervousness.

By John Harrington DTN Livestock Analyst

Cattle: Steady-$1 LR Futures: mixed Live Equiv $134.91 -$1.20* Hogs: Steady-0.50 HR Futures: 10-30 HR Lean Equiv $114.14 + 0.36** * 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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