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DTN Early Word Opening Livestock       09/15 06:06
   Meat Futures Seem Staged for Mixed Opening

   The cattle complex at the CME should open with uneven price action thanks to
a slow combination of short covering, cash premiums, and beef demand worries.
The lean hog pit is also likely to begin on a mixed basis, scambled in the
early going by spillover selling and profit taking.

By John Harrington
DTN Analyst

Cattle:  Steady  Futures: mixed  Live Equiv $170.28 - $1.09*
Hogs:    Steady  Futures: mixed  Lean Equiv $114.95 - 0.96**
* 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 this morning will be typically slow as packers
concentrated on the collection of new showlists. We expect the mid-month
offering to be about steady with last week. Both sides will no doubt keep a
close eye on the discounted board for new clues regard early fall price
directions. Initial asking prices should be around $163-165 in the South and
$253-255 in the North. While we think packers are fairly short-bought,
significant trade volume could once again be delayed until the second half of
the week. Live and feeder futures appear likely to open on a mixed basis thanks
to a combo of residual buying and selling on one hand and profit taking on the
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