DTN Early Word Opening Livestock 04/18 06:06

DTN Early Word Opening Livestock 04/18 06:06 Look For Cattle Bulls to Roll Higher Again Tuesday Live and feed futures should open solidly higher, boosted further by follow-through buying and ongoing cash optimism. Lean hog issues are expected to open moderately lower, pressured by residual selling interest and uninspiring fundamentals. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 HR Futures: 50-100 HR Live Equiv $143.43 +1.10* Hogs: Steady-$1 LR Futures: 25-50 LR Lean Equiv $ 80.31 + .38** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: The cash cattle trade is not expected to climb far out of the shell Tuesday with both buyers and sellers monitoring the board and/or the beef trade more than each other. Look for bids and asking prices to remain poorly defined. Yet there seems to an early assumption that the country trade will continue to sport a firm undertone. Our guess is that asking prices will eventually be posted around $130 plus in the South and $212 plus in the North. Active trade volume may be delayed until Thursday and Friday. Live and feeder futures should open higher thanks to spillover buying and signs of decent seasonal beef demand.