DTN Early Word Opening Livestock 03/26 06:04

DTN Early Word Opening Livestock 03/26 06:04 Meat Futures Seem Likely to Open at Least Moderately Lower Live and feeder futures should open lower Monday, pressured by residual selling interest and uncertain cash/product prospects. Lean hog contracts are also likely to begin with a defensive undertone, checked by follow-through selling and defensive fundamentals. By John Harrington DTN Livestock Analyst Cattle: Steady-$2 LR Futures: 50-100 LR Live Equiv $148.95 -1.22* Hogs: Steady-$1 LR Futures: 50-100 LR Lean Equiv $ 75.69 - .12** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Needless to say, the big question among cattle traders in the last week of March is whether board discounts can start to stabilize and stop pulling spot feedlot cash sales. Yet we may have to wait until Wednesday or later to get an answer. Activity Monday will be limited to the distribution of new showlists. We expect the new offering to be steady to somewhat smaller than the previous week. Live and feeder futures are likely to open at least moderately lower, pressured by follow-through selling, technically bearish concerns and uncertain cash prospects.