DTN Early Word Opening Livestock 03/04 05:57
Livestock Should Open Midweek Session with Mixed Prices
Look for cattle futures to begin on a mixed basis linked to a combo of
follow-through selling on one hand and short covering on the other. On the same
lines, lean hog prices should be uneven in the early going with light trade
By John Harrington
Cattle: Steady-$1 HR Futures: mixed Live Equiv $170.26 + 0.33*
Hogs: Steady-$1 HR Futures: mixed Lean Equiv $ 73.96 - 0.66**
The cash cattle trade should be typically quiet this morning with bids and
asking prices poorly defined. A few showlists have been priced around $162 in
the South and $260 plus in the North. Although packer still seem short bought,
significant trade volume could easily be delayed until Thursday or Friday.
Expected live and feeder futures to open moderately higher, supported by
spillover buying and improving fundamentals.
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