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DTN Closing Livestock Comment 07/22 15:48
   Meat Futures End Week With Triple-Digit Recovery

   Live and feeder cattle futures settled sharply higher, powered by aggressive
short-covering, the technical correction of oversold charts, and positioning
ahead of the July 1 Cattle on Feed report. Lean hog contracts also closed
sharply higher, supported by late-week short-covering and profit-taking.

By John Harrington
DTN Livestock Analyst



GENERAL COMMENTS:

   From Friday to Friday livestock futures scored the following Changes: Aug
LC, Off $0.97; Oct LC, Off $1.78; Aug FC, Off $2.37; Sep FC, Off $2.58, Jul LH,
Off $4.73, Aug LH, Off $14.02. The late week cash cattle trade was very slow
with bids and asking prices difficult to identify. Looking back, it looks like
most of the week's business was completed on Wednesday and Thursday. According
to the closing report, the national hog base is $0.47 lower compared with the
Prior Day settlement ($63.00-$70.75, weighted average $69.41). Corn futures
closed higher, up 3/4 cent in the September and up 1 cent in the December.
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