Beachner Companies

Wednesday, June 20, 2018  
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DTN Early Word Opening Livestock       06/20 05:57
   Meat Futures Set for Mixed Opening at Midweek

   The cattle complex should open with uneven price action thanks to
follow-through buying on one hand and uncertain cash prospects on the other.
Lean hog futures are also expected to open on a mixed basis, pressured by
residual selling interest and constructive fundamentals.

By John Harrington
DTN Livestock Analyst

Cattle: Steady-$2 LR   Futures: Mixed   Live Equiv: $143.64  - .83*
Hogs: Steady-$1 HR     Futures: Mixed   Lean Equiv: $ 89.98  + .30**

* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue


   Look for cattle buyers to show more buying interest Thursday, but it remains
to be seen if any of the Midwest noise will be attractive enough to trigger
significant feedlot cooperation and significant trade volume. Showlists will
probably be priced around $115 plus in the South and $183 plus in the North.
Live and feeder futures should open on a mixed basis tied to a combination of
follow-through buying and beef demand worries.
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