Cut asparagus into 1/2 inch pieces, using only tender parts of spears. Cook in a small amount of boiling water until tender, about 5 minutes; drain. Set aside to cool.
Melt butter in a saucepan; stir in flour until smooth.
Add milk and broth, bring to a boil. Cook and stir for 2 minutes.
Add ham and cheese; stir until the cheese melts.
Add eggs, salt cayenne and asparagus; heat through.
Serve over biscuits.
10-12 servings