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DTN Early Word Opening Livestock       05/25 06:05
   Livestock Futures Staged for Mixed Opening at Midweek

   Expect the cattle complex to open on a mixed basis linked to spillover
selling on one hand and midweek short-covering on the other. Lean hog futures
should also begin with uneven price action thanks to light short-covering and
profit-taking.

By John Harrington
DTN Livestock Analyst



Cattle: Steady-$2 LR   Futures: Mixed   Live Equiv $147.63  - .53*
Hogs:   Steady         Futures: Mixed   Lean Equiv $ 88.42  - .92**

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

GENERAL COMMENTS:

   Cattle buying interest should slow start and become better defined
Wednesday. Look for initial bids to surface around $195 to $197 in the North
and $125 in the South. Midweek asking prices should be around $205 plus in the
North and $130 plus in the South. While some packers are certainly shorter
bought than they were a week ago, we don't expect significant trade volume to
develop before Thursday or Friday. Live and feeder contracts seem set to open
Wednesday on a mixed basis thanks to a slow combination of follow-through
buying and pre-cash short-covering.
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