DTN Early Word Opening Livestock 03/31 06:00
Cattle Pits Staged for Early Strength
Live and feeder cattle futures should open moderately higher, supported by
follow-through buying and cash premiums. Look for lean hog contracts to begin
on a mixed basis with nearbys losing ground to deferreds.
By John Harrington
Cattle: Steady-$2 HR Futures: 10-30 HR Live Equiv $172.19 + $1.05*
Hogs: Steady Futures: mixed Lean Equiv $ 70.34 + 0.04 **
The cash cattle trade today will be a slow affair with serious packer bids
few and far between. Asking prices should be around $167-168 in the South,
$268-plus in the North. Significant trade volume will probably be delayed until
Thursday or Friday. Live and feeder futures are set to open moderately higher,
girded by follow-through buying and the reality of cash premiums.
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