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DTN Closing Livestock Comment 07/29 16:02
   Bearish Lean Hog Future Close Week With Mixed Session

   Lean hog futures settled on a mixed basis with far deferreds generally
gaining on nearbys. The cattle complex also settled with uneven prices,
scrambled by late-week liquidation and short-covering.

By John Harrington
DTN Livestock Analyst


   From Friday to Friday livestock futures scored the following Changes: Aug
LC, Up $3.12; Oct LC, Up $3.65; Aug FC, Up $2.85; Sep FC, Up $2.75, Aug LH, Off
$6.30, Oct LH, Off $4.85. The cash cattle trade remains limited at this time
with feedlot managers holding for higher bids. Some feedlot business has been
reported in the South at $116, $1 higher than last week. Scattered dressed
sales have been noted in parts of the North at $188, $3 higher than last week's
weighted average basis Nebraska. Greater trade volume could develop late today
if packers move closer to higher asking prices of $118-plus in the South and
$190-plus in the North. According to the closing report, the national hog base
is $0.63 lower compared with the Prior Day settlement ($61.00-$68.25, weighted
average $65.99). Corn futures settled up 3 1/4 cents in the September contract
and up 4 cents in the December.
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