DTN Early Word Opening Livestock       11/20 05:36
   Mixed Prices Expected to Open Meat Futures

   Live and feeder contracts are likely to start out on a mixed basis as
traders position ahead of the November 1 Cattle on Feed report. The pork
complex is also set to open on both sides of unchanged thanks to follow-through
selling and late-week short-covering.

By John Harrington
DTN Livestock Analyst

Cattle: Cash Steady w/Wed      Futures Mixed        Live Equiv $95.48 - .27*
Hogs:   Cash Steady            Futures Mixed        Lean Equiv $62.70 + .15**
*   new formula estimating live cattle equivalent of gross packer revenue
**  new formula estimating lean hog equivalent of gross packer revenue

GENERAL COMMENTS:

   The cash hog trade has held near steady since midweek, and we expect another
round of general stability Friday morning. This week's slaughter will total
well over 2.3 million head, and will be interesting to see how wholesale demand
handles the extra tonnage early next week. Lean hog and belly futures seem
likely to open mixed linked to a combination of residual selling and late-week
short-covering.