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DTN Early Word Opening Livestock       04/15 05:48
   Livestock Futures Geared for Mixed Opening

   Live and feeder cattle futures should open some lower, checked by profit
taking and cash market uncertainty. Look for lean hog contracts to begin
moderately higher thanks to follow-through buying and the premium status of the
cash index.

By John Harrington
DTN Analyst

Cattle:  Steady   Futures: 10-30 LR   Live Equiv $153.65 + 0.03 *
Hogs:    Steady   Futures: 10-30 HR   Lean Equiv $132.18 - 0.35**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue


   The cash cattle trade should remain grounded today with neither bids nor
asking prices well defined. A few showlists have be tentatively priced around
$149-150 in the South and $242-plus in the North. Live and feeder contracts
seem pegged to open moderately lower, pressured by profit taking and worries
that the most bullish combination of price-friendly fundamentals may be past
its peak.
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