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DTN Early Word Opening Livestock       06/29 06:01
   Cattle Futures Staged for Mixed Opening at Midweek

   Live and feeder futures seem set to open on a mixed basis, torn between
residual buying interest and beef demand concerns. Lean hog prices should begin
moderately higher, supported by positive pork demand.

By John Harrington
DTN Livestock Analyst



Cattle: Steady-$2 HR   Futures: Mixed      Live Equiv $139.61  - 1.14*
Hogs:   Steady-$1 LR   Futures: 25-50 HR   Lean Equiv $ 96.33  + 1.86**

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

GENERAL COMMENTS:

   Although we could start to see a few preliminary bids surface in feedlot
country, significant trade volume will probably be delayed until Thursday or
Friday. Some showlists are priced around $120 in the South and $190 to $192
plus in the North. Live and feeder futures are geared to open on a mixed basis
thanks to spillover buying interest on one hand and beef demand concerns on the
other.
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