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DTN Closing Livestock Comment 11/20 16:48
   Feeder Futures Closed Sharply Lower, Pressured in Part by Corn Rally

   The cattle complex at the CME closed mixed in the live pit and significantly
lower for the most part in the feeder market. The lean hog pit settled on a
mixed basis with nearby contracts losing ground to their deferred counterparts.

By John Harrington
DTN Livestock Analyst



GENERAL COMMENTS:

   Besides a few scattered bids across the feeding area (e.g., $167-$168 in
Kansas, $263-$265 in the North), feedlot country remained very quiet. Asking
prices stayed firm at $174-plus in the South and $270-plus in the North.
According to the closing report, the Iowa hog base closed $0.66 lower compared
with the Prior Day settlement ($76.00-$87.50, weighted average $85.79). Corn
futures jumped a dime higher, supported by short covering, better export sales,
and a general lack of selling interest. U.S. stocks closed at highs on Thursday
after encouraging domestic data offset concerns over continued signs of slowing
growth in Europe and China. The Dow closed 33 points higher with the Nasdaq up
26.
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