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DTN Early Word Opening Livestock       01/29 06:06
   Meat Futures Set to Open with Mixed Prices

   The cattle complex should open on a mixed basis thanks to a combination of
residual buying interest and further long liquidation. Lean hog contracts are
also likely to trade unevenly in the opening rounds tied to a combination of
follow-though buying and profit taking.

By John Harrington
DTN Analyst



Cattle: Steady to $2 LR Futures: mixed Live Equiv $169.27 - 0.11*
Hogs: Steady to $1 LR Futures: mixed Lean Equiv $ 85.92 - $1.28**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue

GENERAL COMMENTS:



   Cattle buying interest should start to improve this morning as short bought
packers get serious about covering slaughter needs. Opening bids will probably
begin around $249-250 in the North and $154-155 in the South. Some asking
prices are around $260 plus in the North and $162 plus in the South. If feedlot
managers dig in, significant trade volume could be delayed until Friday. Live
and feeder futures seem set to open on a mixed basis thanks to spillover buying
on one hand and long liquidation on the other.
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