DTN Early Word Livestock Comments 04/06 06:12

DTN Early Word Livestock Comments 04/06 06:12 Cash Cattle Trade Expected Live cattle and April lean hogs were the only ones that closed in positive territory Wednesday. Traders anticipate higher cash cattle this week and are anxious to see business take place. Feeder cattle have not been reacting to corn prices closely this week. Hogs were under significant pressure with June posting a new low. Robin Schmahl DTN Contributing Analyst Cattle: Higher Futures: Mixed Live Equiv: $214.23 +$0.38* Hogs: Steady Futures: Mixed Lean Equiv: $83.83 -$0.29** *Based on formula estimating live cattle equivalent of gross packer revenue. (The Live Cattle Equiv. Index has been updated to depict recent changes in live cattle weights and grading percentages.) ** based on formula estimating lean hog equivalent of gross packer revenue. GENERAL COMMENTS: Traders are chomping at the bit to see higher cash cattle again this week. Cash is not expected to jump as much as it had last week, but feedlots are holding for more. Cash activity is expected to take place Thursday ahead of the holiday weekend. Boxed beef prices have been higher so far this week with choice up $0.68 and select up $0.21 Wednesday. It seems as if the greater demand for Easter this year is beef rather than pork. Weekly export sales Thursday morning will be noted, but likely will have little influence on futures trading activity. Markets will be closed Friday in observance of Good Friday.