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DTN Closing Livestock Comment 11/27 16:09
   Cattle Complex Futures Close Moderately Higher

   Live and feeder cattle contracts concluded a choppy, holiday-shortened
session by closing moderately higher. On the other hand, lean hog futures
settled mostly lower with deferreds losing ground to spot Dec and Feb.

By John Harrington
DTN Livestock Analyst


   Despite essentially boycotting the cash market before Thanksgiving, cattle
buyers have been very slow in entertaining higher feedlot asking prices in the
eleventh hour. Indeed, the country trade remains to be determined as of this
writing. Best bids are no better than $195 to $196 in the North (with asking
prices around $200-plus) and $124 in the South (with asking prices around
$131-plus). According to the closing report, the Iowa hog base is .32 lower
compared with the Prior Day settlement ($47.00-$52.25, weighted average
$51.84). Corn futures closed 4-5 cents higher in thin volume. Besides a lack of
buying interest, the late-week grain trade continued to be troubled by the
strong dollar. Equities ended narrowly mixed in light volume. Market talk was
limited to declines in Disney and oil, as well as Black Friday shopping
results. The Dow closed 14 points lower with the Nasdaq up 11.
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