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DTN Early Word Opening Livestock       08/25 06:04
   Livestock Futures Staged for Moderately Lower Opening

   Live and feeder futures should open moderately lower, checked by
follow-through selling and lower feedlot business. Lean hog contracts are also
set to open some lower thanks to residual selling and a general lack of buying

By John Harrington
DTN Livestock Analyst

Cattle: Steady w/Wed   Futures: 10-30 LR   Live Equiv $135.67  -.07*
Hogs:   Steady-$1 LR   Futures: 10-30 LR   Lean Equiv $ 81.06  -.10**

* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue


   To the surprise of many market watchers, significant weakness surfaced in
the cash cattle market as early as midweek. Moderate trade volume developed in
most areas with live sales in Kansas and Texas as much as $3 lower (i.e.,
$115). While we could see a light round of clean-up action surface Thursday
and/or Friday, country prices have no doubt been established for the week. Live
and feeder futures are likely to open moderately lower, pressured by spillover
selling and disappointing cash sales.
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