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Wednesday, July 26, 2017  
 
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DTN Early Word Opening Livestock       07/26 05:55
   Meat Futures Stages For Mixed Opening, Higher in Hogs, Lower in Cattle

   Lean hog futures should open moderately, supported by follow-through buying
and cash premiums. The cattle complex is likely to be on the defensive,
pressured by residual selling and long liquidation.

By John Harrington
DTN Livestock Analyst



Cattle: Steady-$2 LR   Futures: 50-100 LR   Live Equiv $140.24  + .34*
Hogs:   Steady-.50 LR  Futures: 50-100 HR   Lean Equiv $107.97  + .19**

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

GENERAL COMMENTS:

   The cash cattle market could start to take on some definition at midweek in
terms of a few preliminary bids and asking prices. Buyers and sellers will be
watching for clues from the FCE internet trade later the morning. Live and
feeder futures should open lower, pressured by follow-through selling and
uncertain cash potential.
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