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DTN Early Word Opening Livestock       09/16 06:06
   Cattle Pits Should Open Moderately Lower

   Look for live and feeder cattle contracts to begin moderately lower, checked
by long liquidation and beef demand worries. On the other hand, the lean hog
pit are staged to open on a mixed basis as stronger wholesale pork prices
supported the front-end at the expense of deferreds.

By John Harrington
DTN Analyst



Cattle:  Steady        Futures: 10-30 LR  Live Equiv $169.56 - 0.72*
Hogs:    Steady-$1 HR  Futures: mixed     Lean Equiv $117.23 + $2.28**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue

GENERAL COMMENTS:



   The cash cattle market should remain in its all-show-and-no-go mode with
both bids and asking prices poorly defined. A few showlists should be priced
around $164-plus in the South and $255-plus in the North. Significant trade
volume will probably be delayed until Thursday or Friday. Live and feeder
futures seem geared to open moderately lower, pressured by demand nervousness
and long liquidation.
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