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DTN Closing Livestock Comment 03/04 16:27
   Front Four Feeder Cattle Futures Close Up Limit

   The cattle complex quickly swept aside Tuesday large sell-off and closed
sharply higher thanks to aggressive short covering and ideas of steady/firm
feedlot sales later this week. The lean hog pit also scored triple digit gains,
allowing spot April to close back above the cash index.

By John Harrington
DTN Livestock Analyst


   Activity in cattle country was limited to a few scattered bids in the South
at $157 and in the North at $250. Some asking prices were restated at $162 in
the South and $260 in the North. According to the closing report, the Iowa hog
base closed $0.67 lower compared with the Prior Day settlement ($55.00-$66.00,
weighted average $64.89). The corn market settled modestly lower, pressured by
defensive action in the bean pit and a stronger dollar. The stock market closed
lower at midweek amid a series of economic data that continued to show moderate
growth ahead of Friday's key jobs report. The Dow closed 106 points lower with
the Nasdaq down by 12.
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