Friday, August 2, 2013

DTN Morning Comments on Livestock; Live & Feeder Cattle, and Lean Hogs

Cattle Futures to Open Cautiously Mixed as Trader Wait for Cash News

Live and feeder contracts seem set to open slowly mixed with traders split over cash prospects and the technical significance of yesterday’s sell-off. Lean hogs are likely to begin moderately higher thanks to bull spreading interest and stronger carcass value.
By John Harrington DTN Livestock Analyst
Cattle: Steady-$1 HR Futures: mixed Live Equiv $130.72 + 0.06* Hogs: Steady-0.50 HR Futures: 10-30 HR Lean Equiv $110.66 + $1.39** * 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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