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DTN Early Word Opening Livestock       03/27 05:55
   Meat Futures to Start Waiting Game with Mixed Prices

   Lean hog contracts seem set to open on a mixed basis as traders position
ahead of the March 1 H&P report. Live and feeder futures should also generate
uneven prices in the early rounds with both sides cautious before the
development of cash news.

By John Harrington
DTN Analyst

Cattle:  Steady-$2 HR  Futures: mixed  Live Equiv $171.66 + 0.03 *
Hogs:    Steady-$1 HR  Futures: mixed  Lean Equiv $ 72.07 + 0.43 **


   Short-bought cattle buyers will be necessarily looking for a way to cover
near-term slaughter needs sometime today. Given the awkward combination of
limited feedlot offerings and relatively lackluster beef demand, we're all
quite familiar with the 11th-hour drill. Asking prices will be restated by
feedlot managers at $165-plus in the South and $265-plus in the North. Look for
light to moderate trade volume to surface sometime between late morning and mid
afternoon. Live and feeder futures are staged to open on a mixed basis tied to
a slow combination of short covering and long liquidation.
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