Saturday, November 17, 2018
 
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DTN Early Word Opening Livestock       11/16 05:54
   Meat Futures to Tread Water on Open, Waiting for Cash News

   Look for the cattle complex to start in slow gear as traders patiently
monitor the development of late-week cash potential. Lean hog issues should
open mixed, tied to short-covering and oversold charts.

By John Harrington
DTN Livestock Analyst



Cattle: Steady         Futures: Mixed   Live Equiv: $139.84  + .29*
Hogs:   Steady-$1 LR   Futures: Mixed   Lean Equiv: $ 73.58  - .35**

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

GENERAL COMMENTS:

   Sooner or later, Friday seems to be the day we trade cattle. Bids will be
initially renewed around $109 to $112 in the South and $175 in the North. Look
for some movement toward higher asking prices later Friday afternoon. Live and
feeder futures are likely to open on a mixed basis with significant trade
volume in the country waiting somewhere in the wings.
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