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DTN Early Word Livestock Comments      10/27 06:11
   Further Follow-through Expected

   The cattle complex finally reacted to the bullish implications of the Cattle
on Feed report. Triple-digit gains were seen across the board. Hogs moved in
the opposite direction with triple-digit losses as fundamental support remains
elusive.

Robin Schmahl
DTN Contributing Analyst

   Cattle: Higher   Futures: Mixed   Live Equiv:   $212.59 +0.61*

   Hogs:  Lower    Futures: Mixed   Lean Equiv:  $101.29 -0.26**

   *Based on formula estimating live cattle equivalent of gross packer revenue.

   (The Live Cattle Equiv. Index has been updated to depict recent changes in
live cattle weights and grading percentages.)

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

   GENERAL COMMENTS:

   Cattle futures finally reacted to the bullish implications of the Cattle on
Feed report. This may have been fueled by some light cash trade developing in
Texas at steady to $1 higher from last week. Traders seem to be hoping for more
as front-month October live cattle futures closed $1.80 higher at $126.85. The
October contract goes off the board on Friday. Generally, early cash trade
seems to set much of the tone for the week. This may provide feedlots with
confidence to hold for higher cash. Boxed beef was mixed, indicating the
possibility of support being established. Choice cuts increased $1.72 with
select cuts down $0.65.
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