MARKETS NEWS
DTN Early Word Opening Livestock
John Harrington DTN Livestock Analyst
Fri May 3, 2013 06:18 AM CDT

Cattle: Cash Stdy/firm with Wed/Thurs Futures: mixed Live Equiv $138.18 + 0.63*

Hogs: Cash Steady Futures: mixed Lean Equiv $ 94.53 - 0.39**

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

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

GENERAL COMMENTS:

If packers want to buy more cattle this morning, they will certainly find it necessary to work at the top end of the week's price range (i.e., $129-131 live, $207-208 dressed). Yet given how quickly trade volume seemed to cool on Thursday (e.g., Nebraska movement seemed no better than moderate), it ...

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