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DTN Closing Livestock Comment 08/15 16:41
   Cattle Bulls Recover to Spike Sharply Higher

   The cattle complex suddenly roared back to life Tuesday, soaring with
triple-digit gains thanks to aggressive short-covering and technical-buying.
Lean hog futures also scored impressive progress with nearbys racing ahead of
deferreds.

By John Harrington
DTN Livestock Analyst



   GENERAL COMMENTS

   Cash market activity in feedlot country was limited to a few scattered deals
in parts of the North, $l75-$177. Iowa reported some live biz at $110. While
WTD volume doesn't seem enough to trend, the small early week sample certainly
looks sharply lower than last week (e.g., as much as $5 lower on a live basis
in the North). According to the closing report, the national hog base is $0.35
lower ($72-$78.75, weighted average $76.99). Corn futures cracked 7-8 cents
lower as major growing areas continue to expect timely rains over the next week
or so. The stock market closed mixed with the Dow up 5 points and the Nasdaq
off 7.
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