DTN Early Word Opening Livestock 05/28 06:05
Cattle Paper Stacked for Moderate Gains
Live and feeder contracts should open moderately higher, supported by
follow-through buying and cash premiums. Lean hog futures are set to begin
mostly higher thanks to short covering and bull spreading.
By John Harrington
Cattle: Steady-$1 LR Futures: 10-30 HR Live Equiv $175.25 + 0.11*
Hogs: Steady-$1 HR Futures: 10-30 HR Lean Equiv ___FCKpd___0nbsp; 92.12
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Cattle buyers should start to show a little interest this morning. Look for
opening bids around $157 in the South and $250 in the North. Yet if asking
prices remain steeled near $163-164 in the South and $258-260 in the North,
significant trade volume could be once again delayed until Friday. Look for
the cattle complex to open moderately higher, boosted by spillover buying and
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