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DTN Early Word Opening Livestock       05/22 05:51
   Look for Cattle Futures to Open Mixed

   The cattle complex should open on a mixed basis tied to residual buying on
one hand and long liquidation on the other. Lean hog issues are also likely to
begin with mixed price action thanks to follow-through selling and signs of
stronger carcass value.

By John Harrington
DTN Analyst



Cattle: Steady-$2 LR   Futures: Mixed   Live Equiv: $149.01  - .77*
Hogs:   Steady         Futures: Mixed   Lean Equiv: $ 81.29  +2.19**

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

GENERAL COMMENTS:

   The cash cattle trade is likely to put in a slow day with bids and asking
prices poorly defined. Both buyers and sellers will be carefully monitoring the
board for hints of cash potential going forward. Live and feeder futures should
open on a mixed basis thanks to a combination of follow-through buying and long
liquidation.
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