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DTN Closing Livestock Comment 11/21 15:36
   Cattle Futures Close Moderately Higher, Buoyed by Ideas of Steady-to-Firm
Feedlot Sales

   The cattle complex closed with a firm undertone thanks to late-session
short-covering and friendly on-feed news. Lean hog contracts finished
moderately lower, checked by profit-taking and overbought deferreds.

By John Harrington
DTN Livestock Analyst



   GENERAL COMMENTS:

   The fed cattle trade was thinly tested at midweek. Some Southern bids were
reported at $112, a good $5 below area asking prices. Scattered live bids were
identified in parts of the North at $114. A handful of dressed deals were
turned in at $180. For the most part, it looks like significant trade will be
delayed until sometime Friday. According to the closing report, the national
hog base is $0.61 lower compared with the Prior Day settlement ($46-$51.70,
weighted average $50.76). Corn futures settled fractionally higher in
lackluster trading leading into the Thanksgiving break. The stock market closed
mixed with the Dow slightly lower and the Nasdaq better by 63 points.
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