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DTN Early Word Opening Livestock       05/22 06:24
   Meat Futures Staged to Open Week with Firm Prices

   Look for the cattle complex to open moderately higher, supported by
follow-through buying and cash premiums. Similarly, lean hog futures should
also begin this morning with a firm undertone thank to bull spreading and
spillover buying.

By John Harrington
DTN Livestock Analyst



Cattle: Steady-$2 LR Futures: 50-100 HR  Live Equiv $160.53 - 0.12*
Hogs: Steady-$1 HR Futures: 50-100 HR  Lean Equiv $92.60 + 0.29**

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

GENERAL COMMENTS:

   General Comments: Cattle feeders would love to find cash brakes this week
before adjourning for the Memorial Day weekend. Needless to say, the country
market over the last several weeks has been a train wreck. But the question of
price stability will not be seriously addressed for several days. Activity
today will be limited to the distribution of new showlists. Our guess is that
ready numbers will be steady to somewhat larger. Asking prices are likely to
start out around $136-138 live and $215-220 dressed. Live and feeder futures
should open higher, supported by residual being interest of the premium status
of the country trade.
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