MFA Incorporated 201 Ray Young Drive Columbia, MO 65201 573-874-5111

CLICK - MFA CONNECT

DTN Early Word Livestock Comments      09/01 06:07
   Can Hog Strength Continue?

   Hogs found little strength in futures Monday on top of stronger pork cutout
values.

Robin Schmahl
DTN Contributing Analyst

   Cattle: Lower          Futures: Mixed       Live Equiv: $276.44 -$0.75*

   Hogs: Higher            Futures: Higher     Lean Equiv: $104.68 +$1.61**

   *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:

   Both feeder cattle futures and live cattle futures struggled with finding
direction Monday, both closing slightly higher on the day. Sale barn reports
have been all over the place with some still seeing strong buying interest and
others leaving producers disappointed or choosing to "no sale" the cattle.
Packers have a steady flow of cattle to slaughter currently, although placement
numbers have many traders questioning the long-term availability of feeders.