CHICAGO (Dow Jones)--Chicago Mercantile Exchange hogs could open mixed Monday on selling carried over from Friday's futures losses versus potential short covering, said analysts and brokers.

Prospective bulls feeling out early-week market direction and December's premium to CME's hog index are bearish market features. December's overbought Relative Strength Index condition may deter would-be longs.

And armed with bountiful live supplies, packers may continue the practice of conserving margins by trimming cash hog bids.

The Dow Jones packer margin index for Friday's operations was plus $3.82, compared with plus $3.36 the previous day.

However, last Friday's $0.08 per hundredweight pork cutout value might suggest to some that wholesale pork prices may have momentarily stabilized.

Short covering could develop during what is expected to be a sluggish Columbus Day session.

And, spot-October will likely move within a narrow trading range as the contract prepares to expire on Oct. 14.

Meanwhile, overnight-Chicago Board of Trade corn strength might lift some deferred-month lean hog contracts.

October's 50.59 20-day moving average serves as an area of support. The contract's 51.50 Thursday high is a price resistance target.

December's 52.00 high Thursday is a price support level. The contract's 53.67 100-day moving average is a resistance obstacle.

February's 58.75 Wednesday high is a price support floor. The contract's 59.76 100-day moving average is a key resistance ceiling.

Pork bellies could start the morning mixed as well on follow-through from Friday's sell-off versus potential short covering.

February's 83.50 Sept. 22 high is a price support area. The contract's 84.53 100-day moving average is a prime technical resistance level.

And, February's 85.00 Sept. 9 low is a price resistance impediment.

March's 81.62 20-day moving average is a support mark. The contract's 83.86 100-day moving average is a point of resistance.

(To access the daily livestock market data recap report, keyword search for "Livestock Market Fundamental Data Recap.")


-By Theopolis Waters; Dow Jones Newswires; 312-341-5778; theopolis.waters@dowjones.com