Harold House with the Kansas City Trade Group takes a look at how the markets are opening up here at mid-week.

To hear Kansas City Trade Group’s Harold House talk with KMZU’s Mandy Young click below:

5-15 0830 Harold House

Early Livestock:

The lean hog pit should start out moderately higher, supported by follow-through buying and the steady advance of the cash index. Look for the cattle complex to open on a mixed basis as traders cautiously position ahead of cash news.

Cattle:     Cash: Steady     Futures: Mixed          Live Equiv.  $140.63 + 0.47

Cattle buying interest should gradually assume greater definition this morning with preliminary bids around $123 in the South and $198-200 in the North. Asking prices should stary firm around $127-128 in the South and $205-plus in the North. Live and feeder futures seem likely to open in a narrow range with a general lack of price consistency.

Hogs:       Cash: 0.50-$1 Higher     Futures:  10-30 Higher   Lean  $97.96 + 0.21

Pork processors continue to be on an impressive spending spree in the face of a tightening supply of ready hogs. Midweek bids could be as much as a buck higher. Lean futures are likely to open moderately higher, bolstered by stronger cash and product sales.

Early Grains:

Corn futures are 2 cents lower, soybeans 5 cents lower and wheat 4 cents lower at 6 a.m. Grains traded lower overnight with volume low once again. Commodities in general were under pressure as the U.S. dollar index continues to rally.

Outside Markets:

Much of the pressure in commodities has been tied to lowered growth expectations in China, while support in the U.S. dollar index continues to come from the weaker Japanese yen.