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DTN Early Word Opening Livestock       05/05 05:54
   Livestock Futures Set to Open on Firm Basis

   Live and feeder cattle futures should open moderately higher, supported by
follow-through buying and premium feedlot sales. Lean hog contracts also seems
likely to begin on a firm basis thanks to ideas of improving fundamentals.

By John Harrington
DTN Analyst



Cattle:  Steady-$1 HR  Futures: 10-30 HR  Live Equiv $171.89 + 0.54 *
Hogs:    Steady-$1 HR  Futures: 10-30 HR  Lean Equiv $ 79.12 + 0.46 **
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue

GENERAL COMMENTS:

   Few cash cattle traders will even bother to take the field this morning,
probably safely assuming that significant business activity will not surface
until Thursday or Friday. If pressed, feedlot managers will likely price show
lists around $163 in the South and $260 North. The big question going forward
through the balance of the spring may be how well beef demand holds up as
cattle slaughter increases. Live and feeder futures are expected to open
moderately higher, girded by residual buying and large cash premiums.
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