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DTN Early Word Opening Livestock       10/22 06:04
   Cattle Futures Stage Early-Week Opening For Mixed Prices

   Live and feeder futures are expected to open on a mixed basis thanks to
early-week, follow-through selling and firming cash sales. On the other hand,
lean hog futures seem likely to begin moderately lower as seasonal supplies
continue to overshadow product demand.

By John Harrington
DTN Livestock Analyst



Cattle: Steady.       Futures: Mixed       Live Equiv: $136.58  +0.83*
Hogs:   Steady-$1 LR  Futures: 50-100 LR   Lean Equiv: $ 83.43  +0.28*

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

GENERAL COMMENTS:

   Activity in feedlot country should be typically limited to the distribution
of new showlists. At this point, we assume that the availability of ready
steers and heifers in the South will be somewhat larger than last week (since
many producers declined bids of $111 late Friday). On the other hand, the new
fed offering in the North should be about steady with last week. Live and
feeder futures seem geared to open on a mixed basis with nearbys gaining on
deferreds.
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