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DTN Early Word Opening Livestock       05/21 05:56
   Meat Futures Could Open Higher Based on News of a Trade Truce Between US and
China

   Look for cattle futures to open moderately higher, supported by
short-covering, cash premiums and outside markets. Hog contracts should also
begin higher with the help of constructive seasonal fundamentals and the
possibility of improving Chinese demand.

By John Harrington
DTN Analyst



Cattle: Steady-$2 LR   Futures: 50-100 HR   Live Equiv: $149.77  - .34*
Hogs:   Steady         Futures: 50-100 HR   Lean Equiv: $ 79.10  -1.48**

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

GENERAL COMMENTS:

   Early-week activity in feedlot country should be typically quiet with buyers
and sellers focusing exclusively on the distribution of new showlists. Ready
numbers are likely to be steady to somewhat larger than last week. Bids and
asking prices are not likely to develop this week until traders can gather some
sense of board stability. Live and feeder futures seem likely to open
moderately higher thanks to short-covering, cash premiums and outside markets.
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