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DTN Early Word Opening Livestock       05/01 05:53
   Cattle Paper Should Open Moderately Higher

   Live and feeder cattle contracts should open moderately higher, supported by
follow-through buying and cash premiums. Lean hog futures are also set to begin
with a firm undertone thanks to seasonally improving fundamentals.

By John Harrington
DTN Analyst

Cattle:  Steady-$1 HR   Futures: 10-30 HR   Live Equiv $172.32 - $1.12 *
Hogs:    $1-2 HR        Futures: 10-30 HR   Lean Equiv $ 78.17 + $1.94 **
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue


   Once again, the cash cattle market is headed toward a narrow, late week
window. Look for light to moderate trade volume to develop sometime between
late morning and mid afternoon. Opening bids should be around $158 in the South
and $253 in the North. Asking prices should be restated around $161 plus in the
South and $260-plus in the North. Live and feeder futures should open
moderately higher, boosted by follow-though buying and cash premiums.
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