DTN Early Word Opening Livestock 04/29 06:27

DTN Early Word Opening Livestock 04/29 06:27 President Trump Signs Executive Order to Keep Plants Open The focus on President Trump's order to use the Defensive Protection Act to keep packing plants open is expected to bring some much needed stability to the livestock market, even though the details of how it will be implemented are still developing. This could stabilize the significant uncertainty in production lines and the market through the upcoming days. By Rick Kment DTN Analyst Cattle: Steady Futures: Mixed Live Equiv $212.62 +12.53* Hogs: Higher Futures: Higher Lean Equiv $ 93.48 + 4.78** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Cash cattle markets are still generally quiet midweek, although limited early week trade developed in Nebraska and Iowa late Tuesday. Prices were listed at $150 per cwt dressed basis, which is generally $4 per cwt lower than last week. Significant cash market activity is expected in the next couple of days, although it is uncertain just how active bids will be early Wednesday. The focus on the president's action Tuesday to use the Defense Protection Act in order to deem the meat packing industry as critical infrastructure is likely to spark increased activity as this will allow plants to focus on reopening plants. The other part of this is to limit the liability for packing plant companies. At this point, this is creating more questions than answers as how and when this will be implemented. The balance between keeping workers safe and maintaining the meat supply to retail locations and consumers will continue to be a delicate balance that will likely create significant controversy over the coming days and weeks. This should allow a light at the end of the tunnel for idled plants to resume production and allow a portion of the cattle, which are backed up on feedyards to slowly move to market in the coming weeks. Futures trade is expected mixed to mostly higher with potential for additional underlying support early in the week in live and feeder cattle futures as the industry tries to increase processing. Wednesday slaughter is expected at 93,000 head.