pkgsrc-2012Q2 Circular Dependency?

[Tim Hawes <tim.hawes%hzmarketing.com@localhost>]

pkgsrc-2012Q2 on Ubuntu 12.04 amd64

Whenever I try building a package (even for net/tnftp and devel/ncurses)
I get the following below.

Even though I have ncurses-dev  package installed and pkg-config
--cflags --libs ncurses returns something sensible,
and /usr/include/curses.h is there.

What am I missing?

bmake package
=> Bootstrap dependency digest>=20010302: found digest-20111104
=> Bootstrap dependency tnftp-[0-9]*: NOT found
=> Verifying package-install for ../../net/tnftp
===> Checking for vulnerabilities in tnftp-20070806
===> Installing dependencies for tnftp-20070806
==========================================================================
The supported build options for tnftp are:

        inet6 socks5

The currently selected options are:

        inet6

You can select which build options to use by setting PKG_DEFAULT_OPTIONS
or the following variable.  Its current value is shown:

        PKG_OPTIONS.tnftp (not defined)

==========================================================================
==========================================================================
The following variables will affect the build process of this package,
tnftp-20070806.  Their current value is shown below:

        * CURSES_DEFAULT = ncurses

Based on these variables, the following variables have been set:
        * CURSES_TYPE = ncurses
        * TERMCAP_TYPE = curses

You may want to abort the process now with CTRL-C and change their value
before continuing.  Be sure to run `/usr/pkg/bin/bmake clean' after
the changes.
==========================================================================
=> Full dependency ncurses>=5.4nb1: NOT found
=> Verifying package-install for ../../devel/ncurses
=> Bootstrap dependency digest>=20010302: found digest-20111104
=> Bootstrap dependency tnftp-[0-9]*: NOT found
=> Verifying package-install for ../../net/tnftp
ERROR: This package has set PKG_FAIL_REASON:
ERROR: Circular dependency detected
*** Error code 1   

Stop.
bmake: stopped in /usr/pkgsrc/net/tnftp
*** Error code 1   

Stop.
bmake: stopped in /usr/pkgsrc/devel/ncurses
*** Error code 1   

Stop.
bmake: stopped in /usr/pkgsrc/net/tnftp
*** Error code 1   

Stop.
bmake: stopped in /usr/pkgsrc/lang/perl5