DTN Early Word Opening Livestock 04/12 06:20

DTN Early Word Opening Livestock 04/12 06:20 Limited Buying Expected Early Friday Light follow-through support is expected to trickle into lean hog trade Friday morning. This could allow for additional end of the week support, although traders are looking for additional longer-term direction. By Rick Kment DTN Analyst Cattle: Steady Futures: Mixed Live Equiv: $151.08 Unchanged* Hogs: Steady Futures: Higher Lean Equiv: $ 89.25 +0.49** * based on formula estimating live cattle equivalent of gross packer revenue ** based on formula estimating lean hog equivalent of gross packer revenue GENERAL COMMENTS: Cash activity in the North is expected to develop through the day, although bids and asking prices are likely to start out in a pattern similar to the one early in the week. Southern trade may be done for the week with Wednesday trade developing at steady money with week-ago price levels. This could spark some additional underlying moves in the entire complex. Firm end of the week activity is likely Friday morning, but prices may find it hard to sustain support through the end of the week. This could leave mixed price levels in both live cattle and feeder cattle trade Friday.