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DTN Early Word Opening Livestock 08/14 05:48
Lean Futures Likely to Open Mixed as Spot August Prepares to Expire
Lean hog futures seem set to open with uneven prices as commmercials and
specs jockey between cash premiums and board discounts.
By John Harrington
DTN Livestock Analyst
Cattle: Steady-$2 LR Futures: Mixed Live Equiv: $138.33 +1.16*
Hogs: $1-2 LR Futures: Mixed Lean Equiv: $ 76.12 - .06**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
It seems safe ?o say that we're in another dull and do-nothing Tuesday in
the cattle country. Look for bids and asking prices to remain poorly defined
until the second half of the week. Look for cattle futures to open on a mixed
basis thanks to a combination of long liquidation and short-covering.
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