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DTN Early Word Livestock Comments      10/14 06:12
   Feedlots Versus Packers

   The cash market is at a standstill, especially in the North this week, as
many feedlots are sitting full of cattle ready to ship any day, yet bids are
difficult to get. Cash prices seem to be strong in the South, yet the North
faces a power struggle of who will win as we wait to see what trades later this
week.

Robin Schmahl
DTN Contributing Analyst

   Cattle: Higher         Futures: Steady    Live Equiv: $275.28 -$0.30*

   Hogs: Lower           Futures: Lower     Lean Equiv: $87.60 -$2.29**

   *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 markets were quiet Tuesday, waiting to see what cash trade does for
the week. Currently, slaughter is running about 4,000 head above last week at
this time at 216,000. Nebraska cash is trading $218-$223 live while Iowa and
Minnesota are slightly lower at $218-$221. Cattle are available and ready to
move in the North; however, getting bids has been a struggle for producers.
Cutout values fell slightly for beef with choice down $0.41 at $375.15 and
select was down $0.46 at $353.67.