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DTN Closing Livestock Comment 01/16 16:28
   Livestock Futures Launch Week With Solid Price Progress

   Lean hog futures closed sharply higher thanks to aggressive short-covering
and technical-buying. The cattle complex settled solidly higher with feeder
issues outperforming their live counterparts.

By John Harrington
DTN Livestock Analyst



   GENERAL COMMENTS

   Feedlot country didn't make much noise Wednesday with both sides looking
toward the board for short-term direction. A few bids of $118 were reported in
parts of the North. Some asking prices were suggested around $122-$123 in the
South and $195-plus in the North. According to the closing report, the national
hog base is $0.10 higher ($62-$71.50, weighted average $69.93). Corn futures
closed several cents higher despite the ongoing dearth of bullish news. The
stock market suffered a big reversal, breaking from early session highs to
close lower. The Dow settled off 10 points, more than 280 below the highs of
the day. The Nasdaq finished 37 points in the red.
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