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DTN Early Word Opening Livestock       12/22 06:06
   Cattle Pits Likely to Open on a Firm Basis

   Look for the cattle complex to open moderately higher this morning,
supported by follow-through buying and short covering. On the other hand, lean
hog contracts should begin on a mixed basis as specs and commercials start to
position ahead of the December H&P report set for release Tuesday afternoon.

By John Harrington
DTN Analyst

Cattle:  Steady-$2 HR  Futures: 50-100 HR   Live Equiv $163.85 - $1.54*
Hogs:    Steady        Futures: mixed       Lean Equiv $ 94.29 - 0.64 **
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue


   The cash cattle trade should be typically slow this morning as cattle buyers
limit their efforts to the collection of new showlists. Look for the offering
to be about steady with last week. Having said that, business will probably
surface either tomorrow or Wednesday as both sides try to complete necessary
chores before adjourning for Christmas. Preliminary asking prices could be
around $162-163 in the South and $255-plus in the North. Live and feeder
futures will likely open this morning moderately higher thanks to residual
buying interest and pre-holiday short covering.
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