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DTN Early Word Opening Livestock       07/27 05:39
   Cattle Futures Set for Mixed Opening

   Live and feeder futures are likely to open on a mixed basis as traders sort
through the various implications of the cattle reports released Friday. Lean
hog contracts should also open with uneven price action as late month
fundamentals are assessed.

By John Harrington
DTN Analyst



Cattle:  Steady to $2 LR   Futures: mixed   Live Equiv $156.30 - 0.86*
Hogs:    Steady to $1 LR   Futures: mixed   Lean Equiv $ 89.65 - 0.06**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue

GENERAL COMMENTS:

   Feedlot country will be typically quiet this morning as short-bought packer
move to collect new showlists. Given generally slow negotiated business last
week, the late-month offering could be somewhat larger than last week. Asking
prices will probably start out around $148 in the South and $236 in the North.
Look for live and feeder futures to begin trading this morning on a mixed basis
as traders position around the various implications of the July 1 on feeder
report and the midyear herd inventory, both released Friday afternoon.
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