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DTN Early Word Opening Livestock       08/28 06:06
   Lean Hog Contracts Seem Geared for Lower Opening

   Look for the lean hog trade to open moderately lower, pressured by
bear-spreading and defensive fundamentals. Cattle futures are staged to begin
with a firm undertone thanks to short-covering and pre-cash positioning.

By John Harrington
DTN Analyst

Cattle: Cash Steady          Futures 10-30 HR     Live Equiv $163.34
Hogs:   Cash Steady$1 LR     Futures 10-30 LR     Lean Equiv $89.58 -$1.14**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue


   Delayed cash cattle business will have to surface sometime today, probably
between late morning and early afternoon. Opening bids should start out around
$226 to $228 in the North and $143 to $144 in the South, way below asking
prices of $236 in the North and $150 in the North. Live and feeder futures are
expected to open moderately higher, supported by follow-through buying and
pre-cash short-covering.
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