Dakota Ag Cooperative 
Thursday, August 28, 2014  
 
 
 
 
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DTN Early Word Opening Livestock       08/28 06:00
   Meat Futures to Open Under Selling Pressure

   Lean hog contracts should open solidly lower, checked by renewed signs of
struggling product demand and profit taking. Live and feeder futures seem set
to begin moderately lower thanks to follow-through selling and pre-cash
positioning.

By John Harrington
DTN Analyst



Cattle:  Steady    Futures: 25-50 LR    Live Equiv $170.00 - 0.61*
Hogs:    $1-2 LR   Futures: 50-100 LR   Lean Equiv $108.80 - $2.98**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue

GENERAL COMMENTS:

   Cattle buyers will try to get their work done today, affording all players
to get a jump on the Labor Day break. That should require them to at least move
close to steady money with last week. On the other hand, most showlists are
actually priced on a higher basis (i.e., $155-156 in the South; $245-247 in the
North). It's possible that feedlot managers could dig in their heels deep
enough to delay final deal making until Friday. Live and feeder futures should
open moderately lower, pressured by residual selling and pre-cash positioning.
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