DTN Early Word Livestock Comments      11/14 06:05
   Livestock Futures Struggle to Maintain Rally

   Volatility seems to be the norm in livestock markets anymore. Thursday the
livestock futures mostly traded lower and are expected to remain lower to close
out this Friday.

Robin Schmahl
DTN Contributing Analyst

   Cattle: Lower          Futures: Mixed       Live Equiv: $271.16 -$1.36*

   Hogs: Lower            Futures: Lower       Lean Equiv: $101.49 -$0.88*

   *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:

   Feeder cattle futures posted limit-lower moves in most of the deferred
months. The only exceptions were the November and January contracts. Live
cattle futures also traded significantly lower with most contracts around $6.00
lower. Cash trade slipped as well. The trend seems to be headed lower, although
with the volatility, cattle are not going down without a fight. The final nail
in the coffin of limit-lower prices in feeder cattle Thursday came with the
announcement from USDA that a new sterile fly dispersal facility is opening in
Tampico, Mexico. This brings concern over the border opening sooner rather than
later.