DTN Early Word Opening Livestock 04/02 05:57

DTN Early Word Opening Livestock 04/02 05:57 Market Stability Expected Limited activity is likely Tuesday as traders focus on further short-term market shifts. Little outside market direction is expected through the morning, allowing livestock trade to focus on potential fundamental shifts through most of the morning. By Rick Kment DTN Analyst Cattle: Steady Lower Futures: Mixed Live Equiv: $150.26 +0.42* Hogs: Steady Futures: Mixed Lean Equiv: $ 86.73 +0.82** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Firm early-week gains in the futures complex sparked additional underlying support after strong price pressure in late March. Traders continue to focus on the ability to regain market momentum at current price levels, rekindling boxed beef values as traders look for stronger consumer demand in the next couple of weeks. The expectation is that cash market activity will be delayed until late in the week, even though packers are expected to return to the market generally short-bought. Traders seem to be focused on slow but steady growth over the next couple of weeks, which could reestablish price support in a sideways market trend for the next couple of months.