DTN Early Word Livestock Comments      04/23 06:10
   Cash Cattle Trade Is Expected to Take Place

   Cattle futures have shown weakness this week as some liquidation took place
due to an overbought market and uncertainty over cash. Hog futures have made a
nice rebound over the past two days on short-covering and renewed demand
interest.

Robin Schmahl
DTN Contributing Analyst

   Cattle: Lower           Futures: Mixed      Live Equiv: $284.62 -$1.80*

   Hogs: Lower             Futures: Mixed     Lean Equiv: $104.79 -$0.79**

   *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 have been under pressure for the first half of the week, with
uncertainty coming from different angles. There is a strong possibility that
cash cattle may trade lower. Some light trade took place on Wednesday, but it
was not sufficient to indicate at what price business will be done. Boxed beef
prices declined, with choice down $1.99 and select down $3.87. USDA Agriculture
Secretary Brooke Rollins is scheduled to visit Douglas, Arizona, on Friday to
assess the border crossing and whether it would be safe to resume cattle
imports from Mexico.