DTN Early Word Livestock Comments      06/12 06:28
   Hog Futures May Show Short-Covering Ahead of Weekend

   Cattle futures uncovered further buying interest with feeder cattle leading
the way after an uneventful opening. Hog futures showed minor strength in the
August and later contracts. Friday is the final day to trade the June hog
contract.

Robin Schmahl
DTN Contributing Analyst

   Cattle: Steady          Futures: Mixed      Live Equiv: $287.91 -$0.65*

   Hogs: Lower             Futures: Mixed     Lean Equiv: $101.08 -$1.49**

   *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 began Thursday without fanfare with a steady to slightly
higher open. As the day progressed, so did the buying interest. The gains were
not fueled by actual cash cattle trade, but by the anticipation of no worse
than steady cash. Feedlots may hold out to obtain higher prices or carry cattle
over to next week. The market has taken the news of the New World screwworm in
stride and looked to the fundamentals of supply. No new cases have been
reported in the past few days, providing confidence that the spread might be
minimal. No cash cattle have traded, making today an interesting day. Boxed
beef prices were lower on Thursday, with choice down $0.08 and select down
$2.46.