Livestock Futures Staged for Mixed Opening
Look for the cattle complex at the CME to start the new week on a mixed basis, some lower in the live pit and moderately higher in the feeder trade. Similarly, lean hog contracts should begin with uneven price action with ideas torn between recent weakness in wholesale pork demand and the premium status of the cash index.
By John Harrington DTN Livestock Analyst
Cattle: Steady-$1 LR Futures: mixed Live Equiv $136.11 – 0.72* Hogs: Steady-0.50 LR Futures: mixed Lean Equiv $113.78 – 0.13** * 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-22/
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