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DTN Early Word Opening Livestock       09/22 07:21
   Cattle and Hog Futures Staged for Mixed, Late-Week Opening

   Look for the cattle complex to open on a mixed basis as traders position
ahead of cash and on feed news. Lean hog contracts are also set to begin with
uneven action in light volume.

By John Harrington
DTN Livestock Analyst

Cattle: Steady-$2 HR   Futures: mixed   Live Equiv $130.40 - 0.24*
Hogs:   $1-2 LR        Futures: mixed   Lean Equiv $78.31 - $3.28**

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


   Once again cattle buyers and sellers have reached the last business day of
the week with not a hoof traded. Moderate trade volume will have to develop
sometime today, perhaps not until the feedlot inventory hit the press. Packers
bids are likely to begin this morning around $104-105 live and $165-168
dressed, still far below asking prices of $119 in the South and $172-174 in the
North. The September on feed report is scheduled to be released this afternoon
at 2:00 CDT. Average trade guesses look like thing: on feed, up 2-3 percent;
placed in August, off 2-3 percent; marketed n August, up 6 percent. Live and
feeder futures are staged to open on a mixed basis as traders position ahead of
cash and on feed news.
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