DTN Livestock Open: Light Trade Expected

©Debra L Ferguson Stock Photography

Hog futures are expected weak early Friday morning, although end-of-the-week positioning is expected to develop with traders focusing on bringing some stability to the weakening complex.

Cattle: Steady Futures: Mixed Live Equiv: $134.12 -0.31*
Hogs: $1 Lower Futures: $1 Lower Lean Equiv: $ 83.62 -0.59**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue

GENERAL COMMENTS:

Cash cattle trade may be done for the week following light to moderate trade in all areas that developed Thursday afternoon. Live trade is fully steady with last week at $111 per cwt while dressed trade is seen at $173 to $174 per cwt, which is $1 to $2 per cwt lower than last week, and generally $1 per cwt lower than the previous day.

Futures trade is expected to remain sluggish with a combination of short-covering, especially in deferred contracts, while the general weaker tone could add some additional uncertainty to the market and allow pressure to redevelop at the end of the week.

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