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DTN Early Word Opening Livestock       09/30 08:20
   Light Trade Expected to Close Out September

   Friday trade is expected to be light as traders focus on squaring positions
for both month end and end of quarter. The quarterly Hogs and Pigs report will
be released Friday afternoon.

By Rick Kment
DTN Analyst




Cattle: Steady            Futures: Lower   Live Equiv $128.38 - 0.64*
Hogs:   Steady to $1 LR   Futures: Mixed   Lean Equiv $ 79.21 - 1.12**

* 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 activity is expected to be generally done for the week, although a
quick look at available numbers indicates that more numbers could still move in
parts of the North before the end of the week. This will likely be covered in
any clean-up trade activity that may develop Friday. But any trade that does
develop in any area is likely to be steady money on what has traded earlier in
the week as the tone has been set for the week. The futures market quickly
weakened during late-day Thursday activity following what many had expected to
turn into a show of stability and an indication that markets would quietly move
into the end of the month. Light pressure is expected early Friday if
additional late-month position-taking occurs before traders close the books on
what has been a volatile month.
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