March 20, 2019
 
Caledonia Feed & SupplyCaledonia Feed MillCaledonia AgronomyLake Odessa Feed & GrainLake Odessa Agronomy
146 E. Main Street
Caledonia, MI 49316
Lake and Kinsey Street
Caledonia, MI 49316
290 South Street
Caledonia, MI 49316
1018 3rd Avenue
Lake Odessa, MI 48849
9260 Eaton Hwy
Lake Odessa, MI 48849
Store Line  616-891-4150 
Office Line 616-891-8108
Phone: 616-891-8108Phone: 616-891-1033Phone: 616-374-8061
Phone: 616-374-7329

 
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DTN Early Word Opening Livestock       03/19 08:27
   Pork Strength Drives Buyer Support

   Continued underlying support is developing through all lean hog futures as
traders are focusing on continuing the first strong rally of 2019.

By Rick Kment
DTN Analyst



Cattle: Steady      Futures: Mixed    Live Equiv: $150.38 +0.75*
Hogs:   $1 Higher   Futures: Higher   Lean Equiv: $ 76.85 +3.50**


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

GENERAL COMMENTS:

   As spring flooding issues continue to move south and east, and the
devastation in many areas already hit and where water has peaked, the focus
will be on short- and long-term implications to the market. From a production
and packing sense, keeping cattle safe and well fed as well as finding
transportation and passable roads continues to be the main focus of many cattle
producers through the last week. This will continue to be a challenge as new
areas start being impacted by floodwaters. The fact that snowmelt from the
mountains is not likely to even be a factor at this point, has many processors
in all areas of cattle country concerned that these flooding issues may
continue to be a recurring theme through most of the spring and early summer.
April live cattle futures remain stuck in a wide $3.50 per cwt trading range
that may keep prices from breaking these barriers in the next few weeks.
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