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DTN Early Word Opening Livestock       10/21 06:18
   Cattle Futures Mixed Following Aggressive Monday Gains

   Nearby live cattle futures are pointing toward a quiet opening with mixed
trade hovering in a narrow range during overnight trade. Additional volume is
expected to redevelop with the emphasis in feeder cattle likely to be placed on
position squaring following the sharp triple digit rally Monday.

By Rick Kment
DTN Analyst

   Cattle: Cash: Steady to $1 Higher Futures: Mixed Live Equiv $169.94  +0.34*

   Hogs:   Cash: $1 to $2 Lower   Futures: Mixed Lean Equiv $114.45 -$4.55**

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

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


   Tuesday activity in the cash cattle market is expected to follow the typical
lackluster interest with bids unlikely to be seen and only a few asking prices
developing across both the North and the South. Asking prices are expected to
be seen around $166 to $167 in the South and $260 and higher in the North, but
even these are subject to change if aggressive follow-through support develops
through the live cattle futures market Tuesday. Initial interest in nearby live
cattle futures trade remains moderate with mixed overnight trade seen, and
limiting activity following the sharp rally Monday.
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