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DTN Early Word Opening Livestock       08/20 06:07
   Cattle Paper Set for Defensive Opening at Midweek

   The live and feeder cattle pits seem likely to open significantly lower,
pressure by follow-through selling and beef demand worries. Look for lean hog
futures to start moderately lower thanks to the persistence of bearish

By John Harrington
DTN Analyst

Cattle:  Steady-$2 LR  Futures: 100-150 LR  Live Equiv $173.73 - $1.48*
Hogs:    $1-2 LR       Futures: 25-50 LR    Lean Equiv $118.36 - $1.36**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue


   While a few preliminary bids could be scattered around parts of cattle
country this morning, we don't expect to see much business surface before
Thursday or Friday. Some showlists have been priced around $157 plus in the
South and $248-plus in the North. Live and feeder futures are expected to open
solidly lower, pressured by follow-through selling, long liquidation, and
nervousness over beef demand.
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