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DTN Early Word Opening Livestock       11/20 05:47
   Cattle Futures Staged for Early Week Selling

   Live and feeder contracts should open under pressure, linked to Friday's
bearish Cattle on Feed report. On the other hand, look for lean hog futures to
open on a mixed basis thanks to a combination of short-covering and long
liquidation.

By John Harrington
DTN Livestock Analyst



Cattle: Cash Steady           Futures 50-100 LR    Live Equiv $136.07 - $1.33*
Hogs:   Cash Steady-$1 LR     Futures Mixed        Lean Equiv $86.18 + .44**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue

GENERAL COMMENTS:

   With Thanksgiving quickly rising on the horizon, cattle buyers and sellers
are stepping into a narrow window of likely business this morning. While Monday
should be typically slow, limited to the distribution of new showlists, our
guess is that cash players will work hard to have marketing chores completed by
Wednesday afternoon. Live and feeder futures should open at least moderately
lower, pressured by Friday's confirmation of larger-than-expected placement
activity in October.
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