Live and feeder cattle contracts are likely to start out some higher this morning, supported by light short covering and the premium status of last week’s feedlot trade. Hog futures also seem set to recover somewhat from Friday’s aggressive sell-off, stabilized by signs of steady/firm cash bids and ideas of appreciating carcass value ahead.
Live and feeder cattle contracts are likely to start out some higher this morning, supported by light short covering and the premium status of last week’s feedlot trade. Hog futures also seem set to recover somewhat from Friday’s aggressive sell-off, stabilized by signs of steady/firm cash bids and ideas of appreciating carcass value ahead.
By John Harrington DTN Livestock Analyst
Cattle: Cash Steady — $2 LR Futures: 10 — 30 HR Live Equiv $133.76 – 0.36* Hogs: Cash Steady — 0.50 HR Futures: 10 — 30 HR Lean Equiv $ 87.78 + 0.58**
* 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/
The risk of loss in trading futures and options can be substantial, therefore only genuine "risk" funds should be used in such trading. Futures and options may not be a suitable investment for all individuals and individuals should carefully consider their financial condition in deciding whether to trade. Option traders should be aware that the exercise of a long option will result in a futures position. Information herein has been obtained and prepared from sources believed to be reliable; however no guarantee to its accuracy is made. Comments contained in these materials are not intended to be a solicitation to buy or sell any of the commodities mentioned. Past performance is not indicative of future performance results. Opinions expressed herein are the opinions of the author only and not the opinion of any firm the author may be affiliated or associated with.
