Meat Contracts Staged for Mixed Opening
Cattle pits should start out with uneven price action as traders jockey ahead of more cash news. Lean hog futures are also pegged to open in a fairly narrow range, stretching from slightly higher to modestly lower.By John Harrington DTN Livestock Analyst
Cattle: Cash-$2 LR Futures: mixed Live Equiv $139.60 +$1.42* Hogs: Cash 0.50-$1 HR Futures: mixed Lean $ 94.86 – 0.20** * 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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