AG POLICY NEWS
DTN Early Word Opening Livestock
John Harrington DTN Livestock Analyst
Thu Jan 23, 2014 06:34 AM CST

Cattle: Steady/firm with Wed Futures: 10-30 HR Live Equiv $165.51 + 0.18*

Hogs: Steady-0.50 HR Futures: 10-30 LR Lean Equiv NA**

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

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

GENERAL COMMENTS:

We're running out of bullish adjectives to describe the amazing cash trade of January 2014. Once again, short bought packers aggressively moved for cattle at midweek, spending $11-13 more on a dressed basis in the North (i.e., mostly $239-240) and $5 more on a live basis in the South (i.e., $147). Trade volume ...

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