CHICAGO (Dow Jones)--Analysts and brokers anticipate a generally firm Chicago Mercantile Exchange hogs open Friday on leftover buying from Thursday's advances.

Pork cutout values that jumped another $0.92 per hundredweight Thursday evening and steady-to-firm cash hog price calls are more bullish futures factors.

Bullish traders remain inspired by CME's steadily rising hog index. And, spot-October and nearby-December that are almost inline or at a discount to CME's hog index may attract prospective buyers.

However, position squaring before the weekend could include profit taking by short-term longs after recent market rallies.

Front month hogs' overbought Relative Strength Index conditions are additional bearish market matters.

Friday is the fourth of five days for the current "Goldman roll" period. The move consists of October fund longs rolling some of those positions into December tied to the S&P's GSCI.

October 51.75-cents Thursday low is a price support level. The contract's 54.00 Thursday high is a price resistance barrier.

December's 50.00 Wednesday high is an area of price support. The contract's 52.25 July 30 low is a price resistance obstacle.

CME bellies may start the morning mixed on possible buying following futures' sharp increase Thursday that might clash with profit taking by bullish traders before the weekend.

February's 86.80-cents Thursday low is a price support floor. The contract has a chart gap between Thursday's 86.80 low and Wednesday's 86.42 high.

February's 89.25 June 29 high is a price resistance obstacle.

March's chart gap is defined by Thursday's 87.70 bottom and Wednesday's 86.15 top.


Cattle Complex


Analysts and brokers anticipate a mixed CME live cattle open on pre-weekend position squaring and "Goldman roll" business as market participants wait for the bulk of cash cattle this week to change hands.

Some cash-basis fed cattle in Nebraska moved at $84 to $84.50 per hundredweight. However, packer bids elsewhere stand at $82 to $83 in the face of $86 to $88 asking prices. Fed cattle last week mostly sold for $85.

Lagging wholesale boxed beef prices work against those who sell cattle for a living.

The USDA's Thursday evening boxed beef item showed choice items dropped $0.74 per hundredweight, and select cuts slid $0.51.

However, shrinking but still profitable beef packer profit margins give processors the wherewithal to pay up for supplies if need be.

The latest operating margin index for beef packers was plus $14.70 per head, compared with plus $22.30 the previous day, as calculated by HedgersEdge.com.

October's 86.91-cents 10-day moving average is a support floor. The contract's 87.68 20-day moving average is a resistance ceiling.

December's 86.96 10-day moving average is a support mark. The contract's 87.57 20-day moving average is a point of resistance.

A uneven feeder cattle start is possible.

Spillover selling from Thursday's down day and futures' premium to CME's feeder cattle index are bearish market factors.

However, possible short covering and the exchange's feeder cash index uptick mare bullish market features.

September on Thursday settled par with its 99.50-cents 20-day moving average. The contract's 99.25 Aug. 27 high is a price support area.

September's 99.75 Aug. 13 low is a price resistance target.

October's 99.54 20-day moving average is an area of support. The contract has a chart gap between Wednesday's 99.60 low and Tuesday's 99.27 high.

October's 100.00 Aug. 24 high is prime price resistance threshold.

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