DTN Early Word Opening Livestock 04/05 06:32

DTN Early Word Opening Livestock 04/05 06:32 Firm Gains Expected Across Livestock Trade Strong buyer support is expected to continue in cattle and hog futures with increased underlying support sparking late-week rallies. By Rick Kment DTN Analyst Cattle: $1 Lower Futures: Higher Live Equiv: $149.82 -0.08* Hogs: $1 Higher Futures: Higher Lean Equiv: $ 86.80 +1.96** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Follow-through buying is expected to develop early Friday morning although volume is likely to remain sluggish in the first minutes of trade. The strong underlying surge in the market on Thursday sparked technical support through live cattle and feeder cattle trade, which is expected to spark additional buying interest. Although beef values have been slow to react at this point, it is likely that additional fundamental support will return to the complex early next week based on strong underlying support. Cash cattle trade remains sluggish following light trade in the South on Wednesday. Asking prices are at $127 live and $208 and higher dressed, but are likely to remain firm based on futures market activity. Packer interest should improve throughout the day, although it could be late in the day before business gets done.