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DTN Early Word Opening Livestock       08/18 05:58
   Meat Futures are Geared Friday for Further Losses

   Live and feeder futures seem staged to open at least moderately lower,
pressured by follow-through selling and sagging cash business. Lean hog
contracts are also set to open on the defensive thanks to struggling
fundamentals.

By John Harrington
DTN Livestock Analyst



Cattle: Steady w/ Wed   Futures: 50-100 LR   Live Equiv $133.86  - .92*
Hogs:   $1 LR           Futures: 50-100 LR   Lean Equiv $ 97.50  + .42**

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

GENERAL COMMENTS:

   Moderate trade volume developed in Kansas and Texas on Thursday with most
steers and heifers marked at $110, $5 lower than last week. At the same time,
scattered dressed sales in the North were reported at $173 to $175, $8 to $10
lower than last week. While we could see isolated pockets of clean-up trade
Friday, chances are the lion's share of cash business is probably done for the
week. Live and feeder futures should open at least moderately lower, checked by
residual selling interest and further late-week long liquidation.
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