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DTN Early Word Opening Livestock       09/02 06:13
   Cattle Paper Geared to Open Moderately Lower

   Live and feeder contracts should open moderately lower, pressured by
follow-through selling and struggling cut-outs. Look for the lean hog market to
start out out on a mixed basis thanks to various spreading strategies and
midweek profit taking.

By John Harrington
DTN Analyst



Cattle:  Steady to $2 LR   Futures: 10-30 LR   Live Equiv $161.74 - 0.80*
Hogs:    Steady to $1 LR   Futures: mixed      Lean Equiv $ 90.99 + 0.33**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue

GENERAL COMMENTS:

   Needless to say, psychology in the cattle market is off to a rough start
this week thanks to struggling live and feeder futures. Opening bids are likely
to remain lackluster, probably around $143-144 in the South and $222-224 in the
North. Showlists should be priced around $148 in the South and $230-plus in the
North. Look for live and feeder to open moderately lower, checked by residual
selling and nervous cash prospects.
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