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DTN Early Word Opening Livestock       08/28 06:06
   Lean Hog Contracts Seem Geared for Lower Opening

   Look for the lean hog trade to open moderately lower, pressured by
bear-spreading and defensive fundamentals. Cattle futures are staged to begin
with a firm undertone thanks to short-covering and pre-cash positioning.

By John Harrington
DTN Analyst



Cattle: Cash Steady          Futures 10-30 HR     Live Equiv $163.34
-___FCKpd___0.05*
Hogs:   Cash Steady$1 LR     Futures 10-30 LR     Lean Equiv $89.58 -$1.14**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue

GENERAL COMMENTS:

   Delayed cash cattle business will have to surface sometime today, probably
between late morning and early afternoon. Opening bids should start out around
$226 to $228 in the North and $143 to $144 in the South, way below asking
prices of $236 in the North and $150 in the North. Live and feeder futures are
expected to open moderately higher, supported by follow-through buying and
pre-cash short-covering.
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