DTN Early Word Livestock Comments      10/10 06:23
   Livestock Futures May Show Further Weakness Thursday

   Livestock futures corrected with lower prices across the board Wednesday.
This weakness may have been a price correction rather than the market reaching
a peak. This may correct the overbought market.

Robin Schmahl
DTN Contributing Analyst

   Cattle: Higher        Futures: Mixed       Live Equiv: $224.57 +$0.65*

   Hogs: Lower          Futures: Lower      Lean Equiv: $101.20 +$0.39**

   *Based on the formula estimating live cattle equivalent of gross packer
revenue. (The Live Cattle Equiv. The 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:

   Traders did not see any cash cattle trade develop and felt the market
already had an increase factored in. The October live cattle contract moved
near the contract high with December and February setting new highs before
falling back Wednesday. Traders decided to temper their buying ahead of seeing
what cash would do this week. There is anticipation that cash cattle will trade
higher this week, but higher cash is already factored in. Boxed beef prices
indicated demand is improving with prices higher again Wednesday. Choice boxed
beef increased by $1.34 with select up by $0.02. Based on the pattern of the
past two weeks, it isn't likely cattle will trade today unless packers feel
they need to get business done and pay more for the cattle. Feeder cattle
prices continue to remain strong on good demand.