DTN Early Word Opening Livestock 02/09 06:04

DTN Early Word Opening Livestock       02/09 06:04
   Cattle Paper Likely to Open With Mixed Prices

   Live and feeder futures should open on a mixed basis thanks to residual
selling on one hand and short-covering on the other. Lean hog contracts are
also likely to begin with uneven price action in light volume.

By John Harrington
DTN Livestock Analyst



Cattle: Steady         Futures: Mixed   Live Equiv $130.52  - .52*
Hogs:   Steady-$1 HR   Futures: Mixed   Lean Equiv $ 90.53  - .15**

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

GENERAL COMMENTS:

   Light trade volume developed at midweek in several areas of cattle feeding
country with live prices ranging from steady to $1 higher (i.e., $120 on the
South and $119 in the North). Look for moderate trading to surface sometime
Thursday or Friday. Asking prices are around $122 in the South and $192 plus in
the North. Live and feeder futures are geared to open on a mixed basis, tied to
a combination of follow-through selling and short-covering.