DTN Early Word Opening Livestock 04/02 08:10

DTN Early Word Opening Livestock 04/02 08:10 Lean Hog Futures Set for Mixed Opening in Wake of Well-Anticipated Inventory Look for hog futures to open this mornng on a mixed basis with summer contracts better supported by both spot April and the far deferreds. On the other hand, cattle contracts should open moderately lower, pressured by further long liquidation and technical selling. By John Harrington DTN Analyst Cattle: Steady-$2 LR Futures: 50-100 LR Live Equiv: $146.26 - 0.24* Hogs: Steady-$1 LR Futures: mixed Lean Equiv: 75.62 + 0.65** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: For those hoping that springtime demand will come to the rescue of the crashing fed cattle market, snowfall on Easter across much of the central plains was not exactly a boon for psychology. The same goes for below average temperatures that are expected over a wide area in the next week or so. While better demand may have a late arrival in the second quarter, students of seasonal trends remain confident that grilling fever surely sits out there somewhere in the next 30 days or so.