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DTN Early Word Opening Livestock       04/18 05:52
   Nearby Live Cattle Contracts Should Be Well Supported on the Opening

   Expect the cattle complex to open on a firm basis, supported by
follow-through buying and further short-covering. Lean hog contracts should
open on a mixed basis tied to both long liquidation and cautious seasonal

By John Harrington
DTN Analyst

Cattle: Steady-$2 HR   Futures: 50-100 HR   Live Equiv: $140.17  - .01*
Hogs:   $1-2 HR        Futures: Mixed       Lean Equiv: $ 73.09  + .06**

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


   Look for feedlot country to start floating a few preliminary bids and asking
prices. Our guess is that showlists will be priced around $122 plus in the
South and $192 plus in the North. Significant trade volume may be delayed until
Thursday or Friday. Live and feeder futures should open at least moderately
higher, girded by residual buying interest and ideas that the beef carcass
value will soon be supported by seasonal demand.
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