DTN Early Word Opening Livestock
John Harrington DTN Livestock Analyst
Thu Jul 24, 2014 06:16 AM CDT

Cattle: Cash $2-$4 HR Futures 50-150 HR Live Equiv $174.06 + .79*

Hogs: Cash Steady-$1 LR Futures 100-150 LR Lean Equiv $141.37 - $1.24**

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

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


Based on the sizzling sample of cash cattle sales seen here and there on Wednesday (e.g., $255 basis Nebraska; $160 basis Iowa), we assume significant trade volume will eventually develop at sharply higher prices sometime Thursday and/or Friday. Just when you think this summer's bullish curiosity is about to run ...

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