Cattle Pits Staged for Initial Price Strength
Live and feeder cattle futures should open moderately higher, boosted by impressive cash strength in feedlot country on Friday and calls for further weakness in the corn market. Look for lean hog contracts to start on a mixed noted thanks to residual selling on one hand and short covering on the other.By John Harrington DTN Livestock Analyst
Cattle: Steady Futures: 10-30 HR Live Equiv $131.43 – 0.29* Hogs: Steady Futures: mixed Lean Equiv $107.65 + 0.02** * 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-4/
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