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DTN Early Word Opening Livestock       02/24 05:59
   Nearby Live Futures to Open on Firm Basis

   The cattle complex should open Friday morning moderately higher, supported
by residual buying and positive fundamentals. Lean hog futures are likely to
start out with mixed prices thanks to spillover selling and short-covering.

By John Harrington
DTN Livestock Analyst



Cattle: Steady/Firm w/Wed   Futures: 25-50 HR   Live Equiv $134.74 +1.25*
Hogs:   Steady-$1 LR        Futures: Mixed      Lean Equiv $ 85.64 + .02**

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

GENERAL COMMENTS:

   While a few clean-up cash deals are possible in feedlot country before the
weekend break, our guess is that the lion's share of business is completed.
Feedlot managers will be eager to price new showlists higher. The Feb. 1 Cattle
on Feed report will be released Friday afternoon at 2 p.m. CT. Private
expectations call for placement and marketing to both be about 10% larger than
last week and for total on feed to be about unchanged. Live and feeder futures
should open moderately higher, supported by follow-through buying and cash
premiums.
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