DTN Early Word Opening Livestock 04/28 09:57

DTN Early Word Opening Livestock 04/28 09:57 Meat Futures are Staged for Further Late-Week Gains Look for the cattle complex to open substantially higher, supported by follow-through buying and new cash premiums. Lean hog futures should also benefit Friday from Thursday's bullish momentum. By John Harrington DTN Livestock Analyst Cattle: Firm w/Thurs advance Futures: 50-100 HR Live Equiv $146.88.+.22* Hogs: Steady-$1 HR Futures: 50-100 HR Lean Equiv $ 79.00 +.18** * 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 buyers aggressively chased ready steers and heifers on Thursday like they were on the endangered species list. Live spending reached as high as $138 to $140 with dressed deals as tall as $217 to $219. Trade volume was quite active in most areas, and we suspect that most business is done for the week. Whatever remains on showlists are probably picked around $140 in the South and $220 plus in the North. Live and feeder futures seem staged to open solidly higher, supported by residual buying interest and new feedlot premiums.