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DTN Early Word Opening Livestock       05/26 06:06
   Cattle Futures Likely to Open Moderately Higher

   Expect the cattle complex to open moderately higher, supported by cash
premiums and April's smaller than expected placement. Lean hog contracts are
geared to begin on a mixed basis thanks to uncertain post holiday fundamentals.

By John Harrington
DTN Analyst

Cattle:  Steady-$1 LR  Futures: 10-30 HR  Live Equiv $174.31 - $1.17*
Hogs:    Steady        Futures: mixed     Lean Equiv $ 90.42 - $1.48**

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


   Both cattle buyers and sellers will be anxious this morning to learn news of
weekend meat clearance. While seasonal beef demand typically remains strong at
least through July 4, many are worried that record retail prices could through
a wet blanket on consumer spending. Activity today should be limited to the
distribution of new showlists. Initial asking prices are likely to be around
$163-164 in the South and $260 plus in the North. Live and feeder futures are
likely to open moderately higher thanks to tall country cash premiums and the
friendly implications of the May 1 on feed report.
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