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DTN Early Word Livestock Comments      11/13 06:08
   Feedlots Seem Anxious to Sell Cattle

   Livestock futures were higher Tuesday, but traders had little fresh news to
trade. A few cattle traded have traded already this week, indicating feedlots
may be anxious to move cattle. Hogs continue to push higher on strong packer
interest.

Robin Schmahl
DTN Contributing Analyst

   Cattle: Lower         Futures: Mixed      Live Equiv: $222.46 -$0.36*

   Hogs: Higher         Futures: Mixed     Lean Equiv: $103.59 -$3.78**

   *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:

   Cattle futures found more aggressive buying interest Tuesday stemming from
higher boxed beef prices Monday. However, traders may pause to reflect on boxed
beef price on Tuesday with choice up $0.06 and select down $1.92. Some cattle
were sold in Iowa at steady money, indicating feedlots may be a bit anxious to
move cattle this week. Packers may take advantage of this and hold out with
lower bids which could result in lower prices for the week. Slaughter continues
to run at a slower pace as packers try to improve margins and match production
with demand. Traders attempted to close the chart gaps with that being
accomplished in feeder cattle but not in the December live cattle contract.
December could trade higher Wednesday to close the gap but may have difficulty
finding further support.