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DTN Early Word Opening Livestock       01/30 06:21
   Softness Through Livestock Trade Expected Friday

   The aggressive pressure through livestock futures Thursday afternoon is
expected to create early follow through pressure Friday. The potential for
late-day positioning in front of month end could limit market activity, but the
focus will continue to be placed on livestock fundamental moves through the
session.

By Rick Kment
DTN Analyst



Cattle: Cash: Steady to $1 Lower Futures $1 Lower Live Equiv $167.78 - $1.49*
Hogs:   Cash: Steady to $1 Lower Futures: 50 to 90 Lower Lean Equiv $83.89
-$2.03**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue

GENERAL COMMENTS:



   Light cash trade developed through the afternoon Thursday in all areas with
live basis listed at $159 per cwt with a full range of $159 to $160 per cwt.
This is steady to $1 per cwt lower than last week levels, which could help to
draw additional activity trade back into the market Friday morning. Most of the
additional activity is expected to be needed in the North where there does not
seem to be enough activity Thursday to even establish a good trend. This may
draw additional support through morning trade. Futures are expected to remain
on the defensive once again, but the yo-yo pattern seen in the market over the
last couple of weeks is leaving the door open for another major wide price
shift at the end of the week.
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