DTN Early Word Opening Livestock 04/13 06:14

DTN Early Word Opening Livestock 04/13 06:14 Cattle Contacts Staged for Moderate Opening Strength Live and feeder futures should open moderately higher, braced by follow-through buying and cash optimist. Lean hog issues are likely to open moderately lower, checked by residual selling and softening carcass value. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: 25-50 HR Live Equiv $141.35 + 0.05* Hogs: Steady-$1 LR Futures: 25-50 LR Lean Equiv$ 80.09 - 0.44** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: We could be wrong, but. We assume both buyers and sellers in cattle country will try hard today to wrap up weekly marketing chores, allowing all to break for the long holiday weekend. Look for opening bids around $125 in the South and $196-200 in the North. Feedlot managers will continue to shake them off, at least initially insisting on asking prices of $128-130 in the South and $205-plus in the North. Live and feeder futures are expected to open moderately higher thanks to follow-through buying and ideas of further cash premiums.