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DTN Early Word Opening Livestock       12/19 05:57
   Firm Cattle Buying Likely Early Wednesday

   Mixed trade is expected early Wednesday with firm follow-through support
expected to develop in cattle trade. Lean hog futures should remain mixed when
markets open with a combination of follow-through selling and short-covering
stepping into the complex.

By Rick Kment
DTN Analyst



Cattle: Steady     Futures: $1 Higher   Live Equiv: $140.81 +0.19*
Hogs:   $1 Lower   Futures: Mixed       Lean Equiv: $ 76.69 +0.04**

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

GENERAL COMMENTS:

   Even though just a few cattle were sold Tuesday in Iowa, the cash cattle
market remains essentially at a standstill with bid and asking prices not yet
fully defined. Asking prices are expected to be $120 and higher live and $192
dressed. There is increased focus on outside market direction as the sharp
losses in energy trade and the stock market through the day Tuesday has created
nervousness through all commodity markets. Active cash trade is not expected
until late Thursday or sometime Friday, but packer interest may start to
increase over the next day or two. Futures trade is expected to firm during
early trade, allowing increased buyer activity to pick up where traders left
off on Tuesday. This may add some additional underlying support to the entire
complex.
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