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DTN Closing Livestock Comment 07/20 15:55
   Back and Forth Cattle Futures This Time Break Sharply Lower

   Cattle futures answered triple-digit gains at midweek with triple-digit
losses today. Lean hog contracts settled on a mixed basis with nearby issues
losing a significant amount of ground to deferreds.

By John Harrington
DTN Livestock Analyst


   The cash cattle trade remained very slow with just a handful of dressed
deals reported in parts of the North at $188 (steady with Wednesday, but $2
lower than last week). According to the closing report, the national hog base
is $0.51 lower ($79.00-85.50, weighted average $84.28). Corn futures closed
nearly 8 cents higher, sparked by extreme heat and growing crop concerns. The
stock market closed mixed with the Dow off 28 points and the Nasdaq up 4.
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