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DTN Closing Livestock Comment 11/21 16:04
   Cattle Futures Close Week Solidly Higher

   Live and feeder cattle contracts closed with impressive gains thanks to
late-week short-covering and signs of cash cattle strength. Lean hog futures
settled mostly higher with only December and February suffering modest losses.

By John Harrington
DTN Livestock Analyst



GENERAL COMMENTS:

   From Friday to Friday livestock futures scored the following changes: Dec
LC, Up .70, Feb LC, Up .88; Jan FC, Up .23; Mar FC, Off .15; Dec LH, Off 2.02;
Feb LH, Off 2.30. Light to moderate feedlot trade developed in the North this
afternoon as short-bought packers reluctantly moved to cover slaughter needs
for early next week. Dressed sales in the North averaged between $267 and $268,
generally $2 to $3 higher than last week. On the other hand, feedlot business
in the South has not been tested as of this writing. Some bids have been noted
in Kansas at $172, fully steady with last week. According to the closing
report, the Iowa hog base closed $0.69 higher compared with the Prior Day
settlement ($75.00-$88.00, weighted average $86.48). Corn futures close lower,
down 1/2 in the December contract and down 1 in the March.
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