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DTN Early Word Opening Livestock       10/19 06:20
   Cattle Paper to Open Moderately Higher

   Live and feeder futures should open moderately higher, supported by
follow-through buying and pre-cash short covering. Lean hog contracts also seem
set for a firm opening thanks to further cash strength and residual buying
interest.

By John Harrington
DTN Livestock Analyst



Cattle: Steady-$2 HR  Futures: 50-100 HR  Live Equiv $132.40 - 0.31*
Hogs:   $1-2 HR       Futures: 50-100 HR  Lean Equiv $ 79.00 - 0.93**

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

GENERAL COMMENTS:

   Cattle buyers should slowly renew bids floated at midweek (i.e., $109-110
live; $172 dressed) If feedlot managers hang tough with higher asking prices of
$112-113 in the South and $178 plus in the North, significant trade volume
could be delayed until Friday. CME officials announced 13 loads retendered at
$1, all at Tulia. Live and feeder futures should open moderately higher,
supported by residual buying and pre-cash short covering.
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