DTN Early Word Opening Livestock 04/09 05:50

DTN Early Word Opening Livestock 04/09 05:50 Meat Futures Likely to Launch Week with Moderately Price Pressure The cattle complex seem set to open Monday morning moderately lower, pressured by follow-through selling and sputtering beef cutouts. Lean hog futures should also open lower, checked by defensive fundamentals. By John Harrington DTN Analyst Cattle: Steady-$2 LR Futures: 50-100 LR Live Equiv: $142.62 - .69* Hogs: Stdy-$1 LR Futures: 50-100 LR Lean Equiv: $ 71.60 -2.31** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Look for a typically slow Monday with cattle buyers and sellers primarily focused on new showlists. Smaller trade volume last week suggests that the new fed offerings could be somewhat larger thanks to a certain number of unsold steers and heifers carried over. On the other hand, the seller trade volume could also mean that packers are starting out rather short bought. Live and feeder futures seem set to open moderately lower as cash and product market continues to fight rear guard action.