DTN Early Word Livestock Comments      09/03 06:06
   Beef Labeling Announcement Coming

   The whole cattle complex is under pressure from a mountain of news and
imports.

Robin Schmahl
DTN Contributing Analyst

   Cattle: Lower          Futures: Lower       Live Equiv: $276.86 -$1.92*

   Hogs: Higher            Futures: Mixed      Lean Equiv: $95.62 -$2.28**

   *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:

   Feeder cattle approached nine-month lows on Wednesday with pressure hitting
the cattle market from all sides. Mexican cattle are coming into the country
after a long border shutdown. Beef is being imported as fast as it can to take
advantage of the 90-day tariff relief. On top of this influx of product
entering the United States, we also are seeing announcements from the
government hitting the news nearly every day. Rollins suggested a beef labeling
announcement should be made by the end of this week, as well as reports of
Congress considering a government loan program to assist with herd retention.
Earlier this week, we heard of a heifer retention program to be rolled out with
no details found anywhere at this time. USDA will also be rolling out some new
technology for data reporting coming soon. All of these factors play a part in
the beef industry; unfortunately, the market isn't sure what direction we
should go from here.