Wednesday, August 15, 2018  
 
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DTN Early Word Opening Livestock       08/15 06:19
   Meat Futures Set for Mixed Opening at Midweek

   Look for the cattle complex to start out with mixed price action, torn
between cash premiums and short-covering. Lean hog issues seem staged to open
on a mixed basis as well thanks to light bull-spreading on one hand and
profit-taking on the other.

By John Harrington
DTN Livestock Analyst



Cattle: Steady   Futures: Mixed   Live Equiv: $139.17  + .84*
Hogs:   $1 LR    Futures: Mixed   Lean Equiv: $ 74.85  -1.27**

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

GENERAL COMMENTS:

   Cattle-buying interest could start to intensify Wednesday, but much may
depend on general psychology and late-summer price expectations. There were
some lower feedlot sales reported on Tuesday, but it's tough to tell whether
such bearishness will mushroom into larger, definitive trade-volume totals.
Asking prices should be around $112 to $114 live and $176 to $178 dressed. Live
and feeder futures should open on a mixed basis, thanks to long liquidation and
recent cash premiums.
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