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DTN Early Word Opening Livestock       10/22 06:13
   Narrowly Mixed Trade Expected Early Wednesday

   Trade appears to be extremely sluggish early Wednesday morning with traders
once again focusing on the direction of not only cash market activity, but also
outside market moves which will affect both livestock markets directly and
consumer buying activity through the next few months.

By Rick Kment
DTN Analyst


   Cattle:  Cash: Steady to $1 HR  Futures: Mixed  Live Equiv $170.04 + $0.10*
Hogs:    Cash: $1 to $2 Lower   Futures: Mixed   Lean Equiv $112.03 -$2.42**

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

GENERAL COMMENTS:

   Packers may start floating some token bids across the market through the
morning in order to get the ball rolling and to start to advance cash trade. At
this point it is likely to be either one of two options, initial bids may be
strong, and draw active trade into the complex before the end of the day,
similar to last week, or sales could be delayed until Friday. The latter seems
to be more likely at this point, but only time will tell. Futures are expected
to open mixed as trade remains mixed in overnight trade with the focus being
placed on the potential shift if feeder cattle market as well as cash market
interest.
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