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DTN Early Word Opening Livestock       05/23 05:50
   Meat Futures are Staged for a Mixed Opening at Midweek

   The cattle complex should open moderately higher, supported by
follow-through buying and cash premiums. Lean hog issues are set to open lower,
checked by residual selling interest and cash discounts.

By John Harrington
DTN Analyst



Cattle: Steady-$2 HR   Futures: 50-100 HR   Live Equiv: $148.03  - .34*
Hogs:   Steady         Futures: 50-100 LR   Lean Equiv: $ 81.33  + .04**

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

GENERAL COMMENTS:

   We should start to see the surfacing of cash cattle potential Wednesday
(i.e., initial bids and asking prices). Yet it's possible that significant
trade volume will not develop until Thursday or later. Live and feeder futures
should open moderately higher, supported by follow-through buying and cash
premiums.
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