Tuesday, September 19, 2017  

 
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DTN Early Word Opening Livestock       09/19 06:07
   Cattle Futures Staged for Moderately Higher Opening

   Look for the cattle complex to open higher, supported by follow-through
buying and recent cash strength. Hog paper should open on a mixed basis tied to
short-covering and long liquidation.

By John Harrington
DTN Livestock Analyst



Cattle: Steady-$2 HR   Futures: 25-50 HR   Live Equiv $130.74  + .92*
Hogs:   $1 LR          Futures: Mixed      Lean Equiv $ 83.36  + .33**

* 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 trade will remain in dry-dock Tuesday with both bids and
asking prices poorly defined. Barring a big break in the board, significant
trade volume will probably be delayed until the second half of the week. Live
and feeder futures should open moderately higher, supported residual buying and
stabilizing fundamentals.
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