DTN Early Word Opening Livestock 03/29 06:25

DTN Early Word Opening Livestock 03/29 06:25 Pressure Expected in Hog Trade Sharp losses Thursday are opening the door for expanded trade limits at the end of the week. The volatility is likely to spark some additional market pressure through the month of March. By Rick Kment DTN Analyst Cattle: Steady Lower Futures: Mixed Live Equiv: $150.49 -0.84* Hogs: $1 Higher Futures: Lower Lean Equiv: $ 85.71 -0.42** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Narrow trade ranges are expected early Friday morning as limited direction and the potential for renewed market stability move through live cattle trade. The focus will be on outside markets Friday with end-of-the-month and quarter positioning taking place among noncommercial traders. Cash cattle activity is expected to develop with light-to-moderate trade on Wednesday, but not enough activity for packers going into the month of April. The tone of the market is already set even as bids develop through the morning, but any trade that develops may not move significantly from early-week prices.