DTN Early Word Livestock Comments 04/01 06:10

DTN Early Word Livestock Comments 04/01 06:10 Livestock Futures Might Rebound Friday The livestock complex was under pressure with hogs suffering from buy-the-rumor, sell-the-fact action and lower cash while feeder cattle suffered from higher corn prices. Live cattle felt spillover pressure. Robin Schmahl DTN Contributing Analyst Cattle: Steady. Futures: Mixed. Live Equiv: $199.81 +$1.88* Hogs: Higher. Futures: Higher. Lean Equiv: $111.26 -$0.22** *Based on formula estimating live cattle equivalent of gross packer revenue. (The Live Cattle Equiv. Index has been updated to depict recent changes in live cattle weights and grading percentages.) ** based on formula estimating lean hog equivalent of gross packer revenue. GENERAL COMMENTS: Feedlots proclaimed a victory with higher cash Thursday. The online fed cattle auction posted no sales with packer bids up to $138.50 with reserve prices ranging from $140 in the south to $144 in the north, but cattle did trade in the country with live cattle in the north trading $1.00 higher and dressed cattle up to $2.00 higher. This should carry through Friday. The grain markets seem to have factored in much of the prospective planting report which may temper some of the exuberance of grain prices. Boxed beef did very well Thursday with choice up $1.35 and select up $4.88.