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DTN Early Word Opening Livestock       04/25 06:20
   Meat Futures Staged for Mixed Opening at Midweek

   The cattle complex should open with mixed prices thanks to a combination of
residual selling and pre cash short taking. Lean hog contracts are likely to
open mixed as well, checked by follow-throug selling and midweek profit taking.

By John Harrington
DTN Analyst



Cattle: Steady-$2 HR Futures: mixed Live Equiv: $142.66 + 072*
Hogs:   Steady-$1 HR Futures: mixed Lean Equiv $ 72.97 + 0.21**

* 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 market could start to take on greater potential this
morning, at least in terms of more specific bids and asking prices. Asking
prices are around $125 on a live basis and $196-198 dressed, barring the
development of significant better basis opportunities, the development of trade
volume may not surface until Thursday and Friday. CME officials announced late
Tuesday that 10 loads were retendered for delivered against April live cattle
for $1, all at Dodge City. All 10 loads were demanded. Live and feeder futures
should open on a mixed basis thanks to a combo of spillover selling and pre
cash short covering.
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