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DTN Early Word Opening Livestock       10/13 06:06
   Cattle Paper to Open With Firm Undertone

   Live and feeder cattle are geared to open moderately higher, lifted by
follow-through buying and positive cash expectations. Hog contracts should also
begin with some strength in light trade volume.

By John Harrington
DTN Livestock Analyst

   Cattle  : Higher                    Futures: 25-50 HR   Live Equiv $139.37 +
Hogs :   Steady to $1 HR    Futures: 10-30 HR   Lean Equiv $93.79 + 0.89 **

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


   Look for the cash cattle trade to remain at a standstill with both
preliminary bids and asking prices poorly defined. We may not get a decent
sense of even the neighborhood of price possibility until Thursday or Friday.
Understandably, feedlot managers don't want to price cattle too cheaply, hoping
that another big jump in price like that seen last week is waiting in the
wings. CME officials announced 26 delivery intentions, all retendered for $1 at
Norfolk (25 were demand). Live and feeder futures should open moderately
higher, supported by bull-spreading and improving fundamentals.
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