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DTN Closing Livestock Comment 05/29 16:03
   Livestock Futures End Week With Sharp Selloff

   Live cattle futures closed significantly lower, pressured by long
liquidation, signs of beef demand problems. Lean hog contracts also settled
significantly lower with triple-digit losses surfacing in July, August and

By John Harrington
DTN Livestock Analyst


   From Friday to Friday livestock futures scored the following Changes: Jun
LC, Up .20; Aug LC, Up .57; Aug FC, Up 3.95; Sep FC, Up 3.67; Jun LH, Up .10;
Jul LH, Off .27. Light to moderate business developed in most areas of cattle
country with fed sales generally steady on a dressed basis (i.e. $252 to $253
basis Nebraska). Live cattle in the South were mostly marked at $160, steady to
$1 lower than last week's weighted average. According to the closing report,
the national hog base closed with no comparison available compared with the
Prior Day settlement ($72.00-$80.50, weighted average $79.76). Corn futures
fell modestly, down 2 cents on the July and December contracts.
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