DTN Early Word Livestock Comments 04/30 06:19

DTN Early Word Livestock Comments 04/30 06:19 Livestock Futures Expected to be Choppy Tuesday Live cattle futures slowly eroded throughout Monday sd traders didn't have anything to latch onto. Feeder cattle futures made a higher high before slipping back on price uncertainty. Hogs seemed to have ended the liquidation phase and were able to close with minimal losses in nearby contracts. Robin Schmahl DTN Contributing Analyst Cattle: Steady Futures: Mixed Live Equiv: $219.81 +$0.51* Hogs: Higher Futures: Higher Lean Equiv: $104.91 +$1.37** *Based on the formula estimating live cattle equivalent of gross packer revenue. (The Live Cattle Equiv. The 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: Today is the last day to trade the April live cattle contract. June will take over, posting an $8.00 lower price as traders anticipate cash weakness over the next two months. There has been greater concern developing over demand through the summer months but that remains to be seen. Even though cattle numbers may be tight and heifer retention has not been taking place to any great extent, lower demand will impact prices. Packers will hold the line on chain speed to improve margins and keep supply in line with demand. Feedlots may have difficulty getting more money out of packers this week. Boxed beef prices were higher on Monday with choice up $0.39 and select up $1.49.