MARKETS NEWS
DTN Early Word Opening Livestock
John Harrington DTN Livestock Analyst
Tue Jul 2, 2013 06:21 AM CDT

Cattle: Cash Steady Futures Mixed Live Equiv $135.70 - .66*

Hogs: Cash Steady-.50 HR Futures 10-30 LR Lean Equiv $116.21 -$1.54**

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

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

GENERAL COMMENTS:

Greater spending right out of the gate Monday confirms our suspicion that hog buyers were set to start the holiday-shortened week fairly close to the knife. And limited country movement Monday makes us think they remain in a spending frame of mind this morning. Look for opening bids to be steady to .50 ...

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