Wednesday, July 31, 2013

Midday Comments on Livestock

Lean Hog Paper Likely Open Higher

Look for lean hog futures to open moderately higher this morning, supported by midweek short covering and improving carcass value. On the other hand, the cattle pits will probably start trading on a mixed basis thanks to cautious positioning ahead of more definitive cash and product news.
By John Harrington DTN Livestock Analyst
Cattle: Steady-$1 HR Futures: mixed Live Equiv $130.92 – 0.10* Hogs: Steady-0.50 HR Futures: 10-30 HR Lean Equiv $109.35 +$1.24** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue

Read More:

The risk of trading futures and options can be substantial. Trading foreign exchange carries a high degree of risk, and may not be suitable for all investors. All information, publications, and reports, including this specific material, used and distributed by Sweet Futures 1, LLC shall be construed as a solicitation. Sweet Futures 1 does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71. This website contains information obtained from sources believed to be reliable, but its accuracy is not guaranteed by Sweet Futures 1. Past performance is not necessarily indicative of future results.