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DTN Early Word Opening Livestock       05/27 06:05
   Hog Futures Likely to Open Higher on Light Short Covering

   The lean hog pit should open some higher, supported by light short covering
and firming carcass value. The cattle complex is likely to begin with mixed
price actions thanks to long liquidation and cash premiums.

By John Harrington
DTN Analyst

Cattle:  Steady-$1 LR   Futures: mixed       Live Equiv $175.14 + 0.83*
Hogs:    Steady-$1 HR   Futures: 10-30 HR    Lean Equiv $ 91.51 + $1.09**

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


   Given this week's shortened work schedule, we could see short-bought cattle
start to walk the streets as early as today. Yet if forced to bet, our money
would probably be on the delay of significant business until Thursday or
Friday. Showlists are mixed in size, larger in Texas but smaller in
Nebraska,Kansas, and Colorado. Generally speaking, asking prices are around
$163 in the South and $258-260 in the North. Live and feeder futures seem set
for a mixed opening in light volume.
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