DTN Early Word Opening Livestock       09/09 05:28
   Meat Futures to Open Firm on Follow-Through Buying

   Cattle contracts should open modestly higher, supported by short-covering
and residual buying. Lean hog futures are expected to start out on a firm basis
thanks to spillover buying and stabilizing fundamentals.

By John Harrington
DTN Livestock Analyst

Cattle: Cash Steady-Firm      Futures 10-30 HR        Live Equiv $111.18 - .09*
Hogs:   Cash Steady-.50 HR    Futures 10-30 HR        Lean Equiv $97.05 + .47**
*   new formula estimating live cattle equivalent of gross packer revenue
**  new formula estimating lean hog equivalent of gross packer revenue

GENERAL COMMENTS:

   What a difference a day makes in cattle country. Tuesday's bleakness quickly
turned into Wednesday's steady/firm cash market. Moderate to active trade
volume surfaced at midweek with live and dressed prices generally steady to $1
higher (i.e., $97 to $98 and $152 to $154). The lion's share of feedlot
business now seems done for the week. Unsold steers and heifers remaining on
the block are priced around $99 to $100 in the South and $155-plus in the
North. Look for cattle futures to open modestly higher thanks to follow-through
buying and impressive cash business.