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DTN Early Word Opening Livestock       05/27 06:08
   Cattle Futures Are Geared to Open on a Firm Basis

   Live and feeder futures should open solidly higher, supported by
follow-through buying and technical optimism. Lean hog issues are staged
moderately higher with the help of late-week short-covering and spillover

By John Harrington
DTN Livestock Analyst

Cattle: Steady w/Thurs   Futures: 50-100 HR  Live Equiv $146.52  - .74*
Hogs:   Steady-$1 LR     Futures: 25-50 HR   Lean Equiv $ 88.76  -1.46**

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


   Although WTD trade volume totals in feedlot country are nothing to write
home about, there's a chance that pre-holiday business is essentially done for
the week. Light-to-moderate business surfaced Thursday at lower prices (i.e.,
mostly $125 in the South; some dressed deals at $197 to $198 in the North, $7
to $8 lower than last week's weighted average basis Nebraska). This could be
especially true for the South. A final round of light to moderate trade could
surface in the North before players check out for the long holiday. Unsold
cattle seem to be priced around $128 in the South and $200 in the North. Live
and feeder futures seem staged to open higher, supported by follow-though
buying and the premium status of cash feedlot sales.
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