NEWS
DTN Early Word Opening Livestock
John Harrington DTN Livestock Analyst
Wed Mar 20, 2013 06:17 AM CDT

Cattle: Cash Steady-$2 LR Futures mixed Live Equiv $136.43 - 0.55*

Hogs: Cash 0.50 LR Futures: 10-30 LR Lean Equiv $ 85.79 -$1.14**

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

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

GENERAL COMMENTS:

When cattle futures broke hard again on Tuesday and basis opportunities became more attractive, some feedlot managers agreed to lower asking prices and sell a modest number of steers and heifers (i.e., $125 in the South, $2 lower; $124-125 in the North, $2-2.50 lower). Signs of eroding carcass value also worked ...

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