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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


   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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