Cooling Meat Futures to Open Mixed
Look for the cattle complex to momentarily step back from Monday’s rally, opening this morning on a mixed basis. Early activity in both pits should be a combination of follow-through buying and profit taking. Lean hog futures are also likely to begin with uneven price action.By John Harrington DTN Livestock Analyst
Cattle: Steady Futures: mixed Live Equiv $133.20 – 0.17* Hogs: Steady-0.50 LR Futures: mixed Lean Equiv $109.07 – 0.41** * 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-25/
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