DTN Early Word Opening Livestock 04/14 06:13

DTN Early Word Opening Livestock 04/14 06:13 Lean Hog Futures Set to Open Moderately Higher Look for hog paper to open moderately higher, supported by short-covering and some improvement in fundamentals. On the other hand, the cattle complex should begin with mixed prices as traders cautiously position and await greater cash clues. By John Harrington DTN Livestock Analyst Cattle: Cash Steady-$2 HR Futures Mixed Live Equiv $148.91 + $1.91* Hogs: Cash Steady-$1 HR Futures 10-30 HR Lean Equiv $82.86 + $1.12** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Cattle buying should slowly take on greater definition this morning with initial bids around $131 to $132 in the South and $212 to $214 in the North. Positively, packers are short-bought with beef demand surging. Negatively, futures keep sliding lower, unable to hold ground above last week's cash. Assuming asking prices stay firm at $136 to $138 in the South and $216 to $218 in the North, significant trade volume may not surface until sometime Friday. Live and feeder futures seem staged to open on a mixed basis thanks to a combo of follow-through selling and short-covering.