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DTN Early Word Opening Livestock       04/25 05:57
   Hog Futures Set to Open Moderately Higher

   Look for lean hog issues to open moderately higher, supported by
follow-through buying and bottom-picking interest. The cattle complex is geared
to begin with mixed prices thanks to residual selling and short-covering.

By John Harrington
DTN Livestock Analyst

Cattle: Steady   Futures: Mixed        Live Equiv $146.05 +.47 *
Hogs:   Steady   Futures: 50 -100 HR   Lean Equiv $79.84 - .98**

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


   Feedlot country should be generally quiet Tuesday as bids and asking prices
remain poorly defined. Both sides are understandably wondering if Monday's
board crash was just a one-trick pony or a significant sign regarding a market
top. Live and feeder futures seem staged for a mixed opening tied to a
combination of follow-through selling and short-covering.
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