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DTN Early Word Opening Livestock       10/23 06:26
   Buyer Support Expected to Redevelop in Beef Futures

   Trade interest is expected to redevelop through the cattle complex early
Thursday as traders focus on the potential for additional cash market support
at the end of the week. Hog futures are backing away from midweek gains.

By Rick Kment
DTN Analyst


   Cattle: Cash: Steady to $1 Higher Futures: Steaady to $1 Higher Live Equiv
$170.57 + $0.53*
Hogs: Cash: $1 to $2 Lower Futures: Mixed Lean Equiv $109.15 -$2.88**

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

GENERAL COMMENTS:

   Cash trade activity is shaping up to be an end of the week affair given that
only light bids have developed is a section of cattle country midweek, and
feedlot managers are sticking to their guns more than ever following the
support in futures prices and firming beef values on the boxed beef reports. It
would not be surprising if cattle trade was delayed until after the cattle on
feed report is released Friday afternoon. Futures trade appears to be firming
through overnight trade, although the extremely light volume seen through the
complex may severely limit additional market activity during most of the
morning.
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