Printable Page Market News   Return to Menu - Page 2 3 4 5 6 7 8 9 10
 
 
DTN Early Word Opening Livestock       07/30 06:05
   Meat Futures Staged for Mixed Opening

   Live and feeder contracts are likely to open some higher as traders
cautiously await the development of feedlot cash. Lean hog futures should begin
moderately lower, checked by spillover selling and uninspiring fundamentals.

By John Harrington
DTN Analyst



Cattle:  Steady-$2 HR  Futures: 10-30 HR  Live Equiv $180.19 + $1.44*
Hogs:    Steady        Futures: 10-30 LR  Lean Equiv $140.02 + 0.19**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue

GENERAL COMMENTS:

   Preliminary cattle-buying interest should start to surface this morning, but
it's possible that even short bought packers may have enough stamina to delay
significant business until Thursday or Friday. Asking prices remain firm around
$168-170 in the South and $265-270 in the North. Live and feeder contracts
should open moderately higher, supported by signs of decent beef demand and
friendly cash expectations.
No other Daily email offers as much useful Ag information as DTN Snapshot – Sign up Free today!
 
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN