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DTN Early Word Opening Livestock       11/17 05:28
   Meat Futures Set to Open Late-Week Session With Mixed Prices

   Expect the cattle complex to open Friday morning in slow gear with mixed
prices. Action in lean hog futures should be equally sluggish and directionless
as traders position ahead of the weekend break.

By John Harrington
DTN Livestock Analyst

Cattle: Cash Steady w/Wed     Futures Mixed        Live Equiv $137.40 - .42*
Hogs:   Cash Steady-$1 LR     Futures Mixed        Lean Equiv $85.74 - .08**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue


   Look for the cash cattle market to be very limited through the day. We see a
few clean-up deals here and there, but for the most part the country trade
seems to be done for the week. The November 1 Cattle on Feed report scheduled
for release Friday afternoon will most probably be bearish in terms of fed
cattle supplies. "How bearish?" may be the only question in play. Averages
guesses look like this: on feed, up 5% to 6%; placed in October, up 7% to 8%;
marketed in October, up 5%. Live and feeder futures are staged to open on a
mixed basis as traders position before official on feed news.
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