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DTN Early Word Opening Livestock       12/12 05:49
   Lean Futures Set to Open Moderately Lower

   Look for lean hog futures to open moderately higher, pressured by
follow-through selling and struggling carcass value. On the other hand, the
cattle complex should begin with mixed price action as traders position ahead
of cash potential.

By John Harrington
DTN Livestock Analyst



Cattle: Steady         Futures: Mixed       Live Equiv $135.30 - .02*
Hogs:   Steady-$1 LR   Futures: 50-100 LR   Lean Equiv $ 86.96 -2.01**

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

GENERAL COMMENTS:

   Watching the cash cattle market develop Tuesday will be akin to monitoring
the drying of paint (only not so exciting). Chances are that bids and asking
prices will remain poorly defined until Wednesday or Thursday. Live and feeder
futures are geared to open on a mixed basis thanks to a slow combination of
residual selling and technical buying (i.e., from oversold chart conditions).
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