DTN Early Word Opening Livestock 03/14 07:01

DTN Early Word Opening Livestock 03/14 07:01 Cash Cattle Trade Surges Higher The cattle market was firm after strong buying late last week. This pushed cash cattle trade higher in both the North and South. Lean hog futures should have strong support in early-week trade. By Rick Kment DTN Analyst Cattle: Higher Futures: Higher Live Equiv $xxx.xx $x.xx* Hogs: Steady - $1 LR Futures: Mixed Lean Equiv $ xx.xx $x.xx ** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Strong gains developed late last week in dressed cattle in the North with prices surging as much as $7 per cwt higher than the previous week, as packers paid $220 per cwt for cattle. Movement in the South was much slower to develop and didn't happen until late Friday when light-to-moderate trade surfaced in Kansas and Texas at $138 per cwt. This would be a $2 per cwt gain from the previous week, but a far cry from the aggressive rally in the dressed market. Initial gains are expected early in the week, but there is growing concern about prices pushing higher over the coming months.