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DTN Early Word Opening Livestock       11/24 06:14
   Cattle Futures Geared for Higher Opening

   Live and feeder contracts are likely to open with decent progress, supported
by cash premiums and follow-through buying. On the other hand, look for the
lean hog pit to being on a mixed basis tied to long liquidation and light bear

By John Harrington
DTN Analyst

Cattle: Steady-$2 HR Futures: 50-100 HR Live Equiv $173.77 - 0.62*
Hogs: Steady Futures: mixed Lean Equiv $100.97 - 0.33**
* based on formula estimating live cattle equivalent of gross packer
** based on formula estimating lean hog equivalent of gross packer revenue


   Even though the trading week will be shortened by Thursday's holiday, look
for the cash cattle market to start out in low gear. Activity today should be
typically limited to the distribution of new showlists. We expect the new
offering to be about steady with last week. Initial asking prices should be
around $175-176 in the South and $272-274 in the North. Buyers and sellers are
likely to try hard to complete marketing chores before breaking for turkey on
Thursday. Given greater packer spending on Friday, live and feeder futures seem
likely to open with solid prices this morning.
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