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DTN Closing Livestock Comment 03/02 16:20
   Triple-Digit Gains Dominate Cattle Complex

   Responding to bullish cues generated late last week, live and feeder cattle
surged sharply higher in launching the new month. The lean hog pit closed
moderately higher for the most part, supported by more constructive late-winter
fundamentals and spillover buying from the cattle pits.

By John Harrington
DTN Livestock Analyst


   Activity in feedlot country was typically limited to the distribution of new
showlists. Though ready numbers are somewhat greater in Texas and Colorado, and
a bit smaller in Nebraska and Colorado, the general offering appears to be
about equal to last week. A few asking prices were floated around $162 in the
South and $260-plus in the North. According to the closing report, the Iowa hog
base closed $0.09 higher compared with the Prior Day settlement ($57.00-$67.00,
weighted average $66.38). The corn market finished close to 5 cents lower,
pressured by decent rainfall in Argentina over the weekend. The stock market
closed with the Nasdaq above the psychologically key level of 5,000 for the
first time since March 2000. The Dow closed 154 points higher with the Nasdaq
positive by 44.
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