DTN Early Word Opening Livestock 04/01 06:04

DTN Early Word Opening Livestock 04/01 06:04 Cattle Futures Set for Moderate Strength in Early Round Live and feeder cattle futures should open moderately higher, supported by follow-through buying and late-week profit-taking. Lean hog contracts seem likely to open on a mixed basis tied to a combination of spillover selling and short-covering. By John Harrington DTN Livestock Analyst Cattle: Steady w/Thurs Futures: 10-30 HR Live Equiv $147.90 - 0.78* Hogs: Steady-$1 LR Futures: mixed Lean Equiv $ 80.77 - $1.54** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Despite a degree of cash business on both Wednesday and Thursday, cattle buyers still need to own a few more slaughter steers and heifers before calling it a week. Light to moderate feedlot business (mostly in Kansas and Texas) surfaced Thursday at $133 live ($3 lower) and $214 to $215 dressed ($3 to $4 lower). Unsold cattle remain priced around $126 in the South and $218-plus in the North. Live and feeder futures are staged to open some higher with buyers likely to initially extend Thursday's late rally.