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DTN Early Word Opening Livestock       07/25 05:55
   Cattle Futures Expected to Open Significantly Higher

   Live and feeder contracts are set to open substantially higher, supported by
follow-through buying and the friendly July 1 Cattle on Feed report released on
Friday. Lean hog issues should start out moderately higher Monday with early
buying encouraged spillover support from Friday and oversold charts.

By John Harrington
DTN Livestock Analyst

Cattle: Steady-$2 LR   Futures: 50-150 HR   Live Equiv $134.70  - .26*
Hogs:   Steady-$1 LR   Futures: 25-50 HR    Lean Equiv $ 94.03  - .42**

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


   Feedlot country will be typically quiet Monday with activity limited to the
distribution of new showlists. We expect the late-month offering to be about
steady with last week. Look for asking prices to start out around $117 to $118
in the South and $190 plus in the North. Live and feeder futures should open
significantly higher, boosted by follow-through buying and
smaller-than-expected June placement.
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