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DTN Early Word Opening Livestock       11/24 06:09
   Cattle Paper Geared to Open Moderately Higher

   Live and feeder contracts seem ready to open moderately higher Tuesday
morning, supported by follow-through buying and expectations of firming beef
demand. Lean futures are likely to begin with mixed price action in light trade

By John Harrington
DTN Livestock Analyst

Cattle: Steady-$2 HR  Futures: 10-30 HR  Live Equiv $135.76 - 0.06*
Hogs: Steady-$1 LR    Futures: mixed     Lean Equiv $ 76.79 - 0.84**

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


   Cattle buyer interest could slowly start to surface as early as today with
short-bought packers mindful of the holiday break ahead. Yet it will be
surprising if significant trade volume develops before Wednesday. Preliminary
asking prices should be floated around $132-plus in the South and $200-plus in
the North. Live and feeder futures should open moderately higher, lifted by
residual buying interest, short-covering, and ideas of better beef demand
waiting on the far side of Thanksgiving.
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