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DTN Early Word Opening Livestock       05/23 06:26
   Cattle Futures Set to Open with Moderate Strength

   Look for live and feeder contracts to open moderately higher, supported by
follow-through buying and the premium status of recent feedlot sales. Lean hog
futures should open on a mixed basis with nearbys gaining on deferred

By John Harrington
DTN Livestock Analyst



Cattle: Steady-$2 LR Futures: 50-100 HR Live Equiv $161.12 + 0.59*
Hogs: Steady-$1 HR Futures: mixed.  Lean Equiv $ 94.05 + $1.45**

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

GENERAL COMMENTS:

   It should be a typically slow Tuesday in cattle country with bids and asking
prices remain poorly defined. That said, we do expect business to develop
relatively early this week given the long holiday weekend ahead. Our guess is
that both sides will try hard to push the cash market to bed by the close of
Thursday. Live and feeder futures should open moderately higher, boosted by
follow-through buying and cash premiums.
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