DTN Early Word Opening Livestock 04/05 06:02

DTN Early Word Opening Livestock 04/05 06:02 Meat Futures Staged for Further Losses at Midweek Look for cattle to remain on the defensive Wednesday, pressured by follow-through selling and eroding carcass values. Similarly, expect lean hog contracts to open moderately lower, checked by further long liquidation and technical selling. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 LR Futures: 25-50 LR Live Equiv $142.47 - .86* Hogs: Steady-$1 LR Futures: 25-50 LR Lean Equiv $ 80.88 - .39** * 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 interest could start to become somewhat more evident at midday, and we could also see greater definition in terms of country asking prices. Yet both sides are apt to stay mum until the results of the FCE auctions are known later Wednesday. Our guess is that significant trade volume will be delayed until Thursday or Friday. Live and feeder futures are geared to open moderately lower, pressed by residual selling interest and ongoing problems in the wholesale beef trade.