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DTN Early Word Opening Livestock       10/20 06:28
   Early Mixed Trade Expected Monday

   A combination of follow-through buyer support in lean hog futures and short
covering in feeder cattle trade is likely to leave futures markets mixed early
Monday. The focus on meat market direction through early-week activity is
likely to create some additional market uncertainty.

By Rick Kment
DTN Analyst

Cattle: Cash: Steady          Futures: Mixed   Live Equiv $169.60 +
Hogs:   Cash: $1 to $2 Lower  Futures: Mixed   Lean Equiv $119.00 -$2.71**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue


   Early week activity is expected to remain sluggish in the cash cattle market
following moderate to active trade through the middle of last week. Packers are
still expected to need cattle to meet demand, but given the cash movement last
week as well as formulated activity, they may be in the best position they have
been in a few weeks. But most of the activity Monday will be centered on show
list distribution as well as inventory taking. Expect both bids and asking
prices to be generally undefined until well into the week. Futures are expected
to remain mixed early Monday morning with traders still heavily affected by the
erratic direction in the feeder cattle futures which have bounced back between
limit higher gains and losses over the last few sessions.
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