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DTN Early Word Opening Livestock       10/17 05:59
   Hog Futures Geared For Firm Opening

   Lean hog contracts should open moderately higher thanks to follow-through
buying and stronger fundamentals. Look for the cattle complex to begin with
mixed price action linked to a combination of residual selling and
short-covering.

By John Harrington
DTN Livestock Analyst



Cattle: Steady-$2 HR   Futures: Mixed       Live Equiv $133.43  + .34*
Hogs:   Steady-$1 HR   Futures: 50-100 HR   Lean Equiv $ 80.37  + .81**

* 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 should be a typical yawner for a Tuesday with bids
and asking prices poorly defined. We expect cattle to eventually be priced
higher given recent momentum. Yet little may be said by either side until
Thursday or Friday. CME officials reported Monday afternoon that 34 loads were
retendered against spot October live cattle (16 for $1; 18 for $2), all at West
Point. The 18 loads discounted for $2 were all reclaimed. Live and feeder
futures are expected to open on a mixed basis thanks to spillover selling and
short-covering.
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