Thursday, November 15, 2018
 
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DTN Early Word Opening Livestock       11/15 05:59
   Look For Cattle and Hog Futures to Open Mixed as Traders Await Cash News

   The cattle complex should start with uneven price action Thursday as bulls
and bears argue how late-week cash will land. Along the same lines, lean issues
are also likely to open mixed thanks to residual selling and short-covering.

By John Harrington
DTN Livestock Analyst



Cattle: Steady-$1 LR   Futures: Mixed   Live Equiv: $139.55  - .77*
Hogs:   Steady-$1 LR   Futures: Mixed   Lean Equiv: $ 69.02  -1.67**

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

GENERAL COMMENTS:

   Pre-Thanksgiving business in the red meat world always tends to be a tricky
affair. Cattle slaughter in the last full week before the turkey blast tends to
be a large one, followed by more manageable numbers next week. Our guess is
that asking prices will be around $178 to $180 in the North and $110 to $112 in
the South. Significant trade volume may not surface until Friday. Live and
feeder futures should open in slow gear and with mixed prices as both buyers
and sellers try to anticipate post-fundamentals.
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