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DTN Closing Livestock Comment 06/21 16:14
   Cattle Futures Settle Moderately Lower

   Live and feeder contracts closed moderately lower Thursday, pressured by
long liquidation and beef demand worries. Lean hog futures settled on a mixed
basis with nearby contracts gaining on deferreds.

By John Harrington
DTN Livestock Analyst



   GENERAL COMMENTS

   If possible, Thursday's cash cattle market seemed even slower than the
do-nothing business of Wednesday. A few packers renewed Wednesday's
unattractive bids, but others didn't even bother to open their mouth. Most
showlists were priced around $115 live in the South and $183 plus dressed in
the North. The limited buying interest idly splashed around miles below these
levels. According to the closing report, the national hog base is $0.81 lower
($75-$83.50, weighted average $81.74). Corn futures finished 2-3 cents higher,
supported by oversold conditions and ideas of an abundance of risky growing
conditions ahead. The stock market closed lower with the Dow off by 196 points
and the Nasdaq down by 68.
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