DTN Midday Livestock Comments          06/05 11:38

   Stronger Cash Cattle Sales are Developing Friday

   With the help of a supportive futures complex, some stronger cash cattle 
trade is developing in the South at $257 to $258. 

ShayLe Stewart
DTN Livestock Analyst

GENERAL COMMENTS:

   The livestock complex is once again mixed heading into Friday's noon hour as 
the cattle contracts continue to rally but the lean hog contracts are tumbling 
lower. Some higher cash cattle trade is currently developing in the South and 
bids are on the table again in the North. July corn is down 7 1/4 cents per 
bushel and July soybean meal is down $4.10. The Dow Jones Industrial Average is 
down 391.87 points and NASDAQ is down 714.04 points.

LIVE CATTLE:

   Thursday we saw the cattle contracts react bullishly to the announcement 
that a case of New World screwworm has been confirmed in Texas for the first 
time in the last 60 years. Friday the bullishness continues as even the fed 
cash cattle market is trading higher. Some light trade is noted in Kansas at 
$257 to $258, which is $2.00 to $3.00 higher than the bulk of this week's trade 
and steady to $1.00 higher than last week's weighted average. A few bids are on 
the table in the North, but at this point no new dressed sales have been 
reported. So far this week Northern cattle have traded at mostly $405, which is 
steady with last week's weighted average. June live cattle are up $1.42 at 
$250.60, August live cattle are up $0.82 at $242.32 and October live cattle are 
up $1.60 at $235.45.

   Boxed beef prices are higher: choice up $0.51 ($393.17) and select up $3.82 
($386.86) with a movement of 56 loads (39.53 loads of choice, 6.12 loads of 
select, 4.03 loads of trim and 6.23 loads of ground beef).

FEEDER CATTLE:

   The feeder cattle complex is also continuing to trade higher as it pushes a 
modest rally into Friday's noon hour. August feeder cattle are up $1.37 at 
$354.65, September feeders are up $1.17 at $351.25 and October feeders are up 
$1.07 at $347.72. As long as the live cattle contracts continue to trade 
higher, the market will likely keep with its upward trend given that enough 
support is available in the complex right now.

LEAN HOGS:

   While the cattle complex is seeing an influx of support, the lean hog 
contracts have crashed lower again as traders have all but pulled their support 
from the sector. You can't point to a lack of fundamental support this week as 
cash prices and consumer support have both been stronger. June lean hogs are 
down $1.15 at $94.15, July lean hogs are down $2.70 at $98.90 and August lean 
hogs are down $1.90 at $97.37. The projected CME Lean Hog Index is delayed from 
the source. Hog prices are lower on the Daily Direct Morning Hog Report, down 
$1.46 with a weighted average price of $94.18, ranging from $87.00 to $97.00 on 
1,095 head and a five-day rolling average of $94.71. Pork cutouts total 214.99 
loads with 189.54 loads of pork cuts and 25.45 loads of trim. Pork cutout 
values: up $3.52, $101.65.

   ShayLe Stewart can be reached shayle.stewart@dtn.com




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