DTN Early Word Livestock Comments      04/28 06:06
   Cattle Futures May See Follow-Through Strength

   Cattle futures were higher and seem intent on regaining the losses of last
week. Outside market strength seemed to spill over into futures, adding to the
strength of boxed beef on Friday. Hog futures struggled, spending time on both
sides of unchanged. The October and December contracts closed slightly lower.

Robin Schmahl
DTN Contributing Analyst

   Cattle: Steady           Futures: Mixed      Live Equiv: $288.40 +$1.80*

   Hogs: Higher            Futures: Higher     Lean Equiv: $105.47 -$0.38**

   *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:

   Stronger boxed beef prices last week, and again on Monday, should provide
further support to cattle futures. This alleviates some of the concern over
reduced demand for the time being. It may set the stage for higher cash, as
feedlots may hold out for higher cash or not sell. A significant influence on
Monday may have been the strength in the outside markets. Futures were the
recipients of spill-over trading activity. The market on Monday may garner
further follow-through buying as technical traders may set their sights on the
contract highs. Feeder cattle led the way with strong gains due to optimism.
Cash activity at sales was reported as mixed.