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DTN Early Word Opening Livestock       11/11 06:16
   Quiet Holiday Trade Expected Monday

   Although futures and cash markets will trade on a normal schedule. Overall
market activity is likely to remain subdued due to the observance of Veterans
Day. With government and financial institutions closed for the day, overall
trade levels traditionally remain limited.

By Rick Kment
DTN Livestock Analyst

Cattle: Steady Futures: Mixed Live Equiv $153.10 +0.46*
Hogs:   Lower Futures:  Mixed Lean Equiv $87.52 +2.03**

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


   Interest in the cash cattle market is expected to remain subdued following
the upward momentum seen last week. Even though increased underlying support is
expected to develop and feeders are likely to once again rapidly increase
asking prices, little to no market interest is likely to be shown early Monday.
Interest will likely be limited to show list distribution and inventory taking
with bids and asking prices not expected to be seen until near midweek or
later. Futures trade is expected to remain mixed in holiday subdued trade. With
financial institutions closed, government holidays like today typically limit
the amount of trade activity moving into the market as many institutional
traders remain out of the market. The sideways trading pattern seen over the
last week continues to focus on the underlying bullishness of the market, but
traders remain concerned about further market potential given limited demand
support through the holiday season. Monday slaughter runs are expected at
117,000 head.
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