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DTN Early Word Opening Livestock       10/22 06:26
   Limited Excitement Expected Early Tuesday

   Following the limited but supportive price moves Monday, trade is expected
to remain generally sluggish through most of the morning Tuesday. Traders
continue to focus on potential long-term meat demand and potential trade
negotiations, but immediate issues are looming at the moment.

By Rick Kment
DTN Livestock Analyst

Cattle: Steady Futures: Mixed    Live Equiv: $141.06 +1.16*
Hogs:   Steady Futures: Higher   Lean Equiv: $ 83.30 +1.50**

*   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 be quiet once again Tuesday. With generally
smaller showlists circulating through the week, it is expected to point to a
slight tightening of market-ready supplies in the near future. With the Kansas
Cargill plant expected to be back on line with no major disruptions in the near
future, overall daily and weekly slaughter numbers should return back to
generally normal levels from the last couple of months. There is limited news
about the Tyson plant, but previous statements that Tyson plans to have the
plant operational by the end of the year seem to still have credibility, and
would restore overall packing capacity to full strength. This is expected to
come at the same time as overall cattle supplies continue to slow. The
combination of additional capacity and tighter market-ready cattle numbers
should add increased premium to both cash and futures trade near the new year.
Futures trade continues to struggle to find significant buyer support early in
the week, with an invisible ceiling at $114.50 per cwt in December contracts.
Even though it has been hard to move prices above resistance levels, the
ability for the complex to hold onto the majority of support in the last month
and continue to test these short-term market highs is impressive, and it is
sparking additional short-term interest. Tuesday slaughter runs are expected at
118,000 head.
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