DTN Early Word Opening Livestock 11/12 07:12
Cattle Looking for Support
Cattle and feeder prices will do well to find some semblance of support this
week after breaking fresh lows on the futures board last week. Hogs on the
other hand, continue to experience high slaughter levels, but are holding
sideways for now.
By Todd Hultman
Cattle: Steady to $1 lower Futures: Mixed Live Equiv: $140.61 -0.37*
Hogs: Steady to $1 lower Futures: Mixed Lean Equiv: $ 75.18 -1.34**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Coming off of a week in which cattle and feeder futures prices broke to new
lows and cash cattle were steady to $2 lower, prices will be looking for some
form of support this week ahead of next week's Thanksgiving holiday. This
week's showlist is likely to be a little larger than last week.
Your local weather forecast from DTN can be sent to your email every morning free through DTN Snapshot