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DTN Early Word Opening Livestock       04/26 05:56
   Meat Futures Likely to Open With Firm Undertone

   Expect cattle futures to open moderately higher Thursday, supported by
follow-through buying and cash optimism. Lean hog contracts should also open
generally higher thanks to short-covering and seasonal odds for improving
fundamentals.

By John Harrington
DTN Analyst



Cattle: Steady-$2 HR   Futures: 50-100 HR   Live Equiv: $142.66  + .72*
Hogs:   Steady-$1 HR   Futures: 50-100 HR   Lean Equiv: $ 73.38  + .41**

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

GENERAL COMMENTS:

   Cash cattle potential could take on greater definition Thursday, both in
terms of more specific bids and asking prices. Opening live bids should be
around $119 to $120 in the face of higher asking prices of $125 or better. Yet
if the board stays firm, significant trade volume may not develop until
sometime Friday. No delivery intentions were announced against the April live
contract on Wednesday. Live and feeder futures seem staged to open moderately
higher, supported by follow-through buying and cash optimism.
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