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DTN Early Word Opening Livestock       04/23 06:35
   Early-Week Pressure Likely to Continue

   Strong triple-digit losses Monday is likely to limit buyer support early in
the Tuesday session. This could leave markets lightly traded, bringing
additional volatility to the complex.

By Rick Kment
DTN Analyst

Cattle: Steady  Futures: Mixed  Live Equiv: $153.68 +0.81*
Hogs:   Steady  Futures: Lower  Lean Equiv: $ 92.75 +0.81**
*   based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue


   Cash cattle trade is expected to remain sluggish Tuesday morning with
limited interest in asking prices or bids. The firm cash market support last
week should spark some additional underlying momentum from feedyard managers,
although underlying softness in futures trade could limit market potential. The
recent developments of midweek trade may spark some additional interest the
next couple of days, but most activity may still be delayed until the second
half of the week. Futures trade is expected mixed to moderately lower following
firm pressure in live cattle and feeder cattle trade. This could bring
additional momentum back into the complex the next couple of days, but price
volatility is likely on Tuesday.
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