DTN Early Word Livestock Comments      11/12 05:57
   Beef Cutouts Lower

   Beef cutout values took a big hit on Wednesday afternoon as Choice fell
$2.72 and Select declined $4.15 from Tuesday. Pork cutouts also fell slightly
on Wednesday, down 18 cents.

Sarah Jungman
DTN Contributing Analyst

                        Futures     Equiv
Cattle:     Lower       Lower       Live       $265.96     -$2.27 *
Hogs:       Lower       Mixed       Lean        $76.10     -$0.18 **

   *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 continued their strength for the week, with feeders settling
anywhere from $0.15 to $2.275 higher on Wednesday and live cattle contracts
higher on every contract except the December. Nearby weakness can easily be
explained by the recent weakness in the cash market. So far this week, there
has been very little cash trade to report on. Iowa/Minnesota reported 210 live.
The weekly slaughter to date is 325,000, which is 5,000 more than this time
last week but 25,000 behind last year.