NEWS
DTN Early Word Opening Livestock
John Harrington DTN Livestock Analyst
Wed Jan 9, 2013 06:26 AM CST

Cattle: Cash Steady-$1 HR Futures: mixed Live Equiv $132.86 + 0.37*

Hogs: Cash Steady Futures: 10-30 LR Lean Equiv $ 90.73 - 0.63**

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

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

GENERAL COMMENTS:

The cash hog trade should open with near steady packer bids. Yesterday clearly saw sharply lower packers bid in most areas. Yet frugal-minded buyers did seem very successful in moving significant numbers. Lean contracts are likely to begin some lower, pressured by midweek fundamentals and the discount of the cash index.

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