DTN Early Word Livestock Comments      11/27 06:14
   Futures May Bounce After Friday's Fall

   Friday was a day impacted by holiday trade with livestock futures falling
because of technical selling. Cattle were under pressure but then broke below
support. Hogs fell under spillover action topped off with fundamental pressure.

Robin Schmahl
DTN Contributing Analyst

   Cattle: Lower        Futures: Lower    Live Equiv:   $216.52 +$0.90*

   Hogs: Lower         Futures: Mixed    Lean Equiv:  $91.66 -$0.41**

   *Based on formula estimating live cattle equivalent of gross packer revenue.
(The Live Cattle Equiv. 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:

   Cash cattle traded in line with the direction set earlier in the week with
Southern trading $1.00 to $2.00 lower than the previous week at $177 with
Northern dressed cattle $1.00 lower at $180. That should not have had the
impact seen in the market on Friday. Lighter holiday trade and technical
selling took place pushing futures to the lowest level since May in the
December live cattle contract and the lowest since March in later contracts.
Feeder cattle futures moved to the lowest level since March. There is a good
chance futures will rebound to some extent today, but traders may be reluctant
to buy back in with any aggressiveness. A positive was that boxed beef was
higher on Friday with choice up $1.03 and select up $1.14.