DTN Early Word Opening Livestock 03/03 06:08
Cattle Complex Seems Set for Firm Opening
Live and feeder contracts should open moderately higher thanks to
follow-through buying and recent cash strength. Look for lean hog futures to
begin this morning on a mixed basis tied to both residual buying and profit
By John Harrington
Cattle: Steady-$1 HR Futures: 10-30 HR Live Equiv $169.93 + 0.35 *
Hogs: Steady Futures:mixed Lean Equiv $ 74.62 - $1.00 **
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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