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DTN Closing Livestock Comment 08/22 16:00
   Cattle Futures Close Week With Short-Covering Rally

   The cattle complex settled significantly higher with live contracts gaining
on feeders. On the other hand, lean hog contracts finished on a mixed basis
with nearby issues lower and deferreds significantly higher.

By John Harrington
DTN Livestock Analyst



GENERAL COMMENTS:

   Light trade was reported in feedlot country Friday with some live deals
noted in the North at $155, about $1 lower than last week but several dollars
higher than early week business. Final trade volume totals for the week look
rather small with asking prices firming as futures recovered. According to the
closing report, the Iowa hog base is $0.57 lower compared with the Prior Day
settlement ($93.00-$96.50, weighted average $95.30). Corn futures closed
higher, up 3 1/4 in the September, up 2 1/2 in the December and March
contracts.
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