July 16, 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       07/16 06:47
   Mixed Trade Expected

   Live cattle futures made a nice comeback Monday with August able to close
slightly higher while later contracts trimmed their losses, resulting in only
minor declines. Activity was confined to window dressing as bids and offers
were posted with no activity as usual early in the week. Early indications are
that cash should be no worse than steady this week. Hogs were the recipients of
spread trading Monday, which provided some nice support for later contracts.
February showed the greatest gain as optimism builds for next year.

By Robin Schmahl
DTN Dairy Analyst

Cattle: Steady to Higher   Futures: Higher   Live Equiv: $136.85 +0.05*
Hogs:   Steady to Higher   Futures: Mixed    Lean Equiv: $ 77.76 +1.25**

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


   Due to higher cash trade last week, feedlots are resolved to hold out for
higher prices this week. Cattle futures tend to support that idea with August
making a new high for the recent trend. Good packer margins may cause buyers to
be a bit more willing to make sure business gets done even if it means paying a
little more. Cash cattle trading is not expected to take place Tuesday. Mixed
cutout prices do not provide much direction. Technically, the market is in an
uptrend, but it is in overbought status, which could trigger some
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