CME live cattle and feeder cattle futures prices opened higher Monday following the direction of higher stock markets. This allowed traders to cover short positions, brokers say. Over the last week of trading live cattle and feeder cattle futures had become oversold based on technical analysis of trading, the broker says. Prices needed a correction, he said. Stocks rallied after word that U.S. and European officials had agreed over the weekend to prop up struggling banks. Pit action also could be a little lighter as some traders observe the Columbus Day holiday, the broker said. Shortly after the open, the October cattle contract was up 97 points at 90.10 cents a pound, and December was up 165 at 92.95. September feeders were up 225 points at 97.70 cents, and October was up 245 at 97.50.(LWA)