DTN Early Word Opening Livestock 04/01 06:31

DTN Early Word Opening Livestock 04/01 06:31 Market Volatility is No April Fools' Joke Additional market volatility is expected to redevelop as traders move into the month of April. Ongoing uncertainty about pork demand and the concern that recent movement to China may not be as secure as previously hoped, may shift price levels during the first part of the month. By Rick Kment DTN Analyst Cattle: Steady Lower Futures: Mixed Live Equiv: $149.84 -0.65* Hogs: $1 Higher Futures: Lower Lean Equiv: $ 85.91 +0.20** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Limited interest is likely to develop in cash cattle markets Monday as traders not only are moving into a new week, but also into a new month and quarter, so interest is expected to be limited to new showlist distribution and inventory taking. More focus will be placed on inventory taking this week with additional contract deliveries expected during the first two weeks of the month. Futures are mixed with traders looking for longer direction following the strong moves lower last week. Even though April contracts moved below support levels in the last couple of trading sessions, the focus is moving to June futures, which has a $6 to $7 per cwt discount to spot April futures. The focus on potential long-term beef demand growth is being clouded by strong pressure in futures markets the last couple of weeks.