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DTN Closing Livestock Comment 03/03 16:48
   Bears Strip Early Week Surge With Triple-Digit Losses

   The cattle complex collapsed with sharp losses thanks to long liquidation
and outside markets. Hog futures also closed significantly lower, pressured by
profit taking and spillover selling from the cattle pits.

By John Harrington
DTN Livestock Analyst



GENERAL COMMENTS:

   Cattle buyers never even took the field Tuesday, probably saving serious
procurement efforts until Thursday or Friday. A few showlists were priced
around $162 in the South and $255-$260 in the North. According to the closing
report, the Iowa hog base closed $0.54 lower compared with the Prior Day
settlement ($57.00-$66.50, weighted average $65.67). Corn futures settled
generally 3 cents higher, supported by signs of strong demand and a general
lack of farmer selling. U.S. stocks pulled back from recent highs to close
lower in light volume as investors weighed soft auto sales and looked ahead to
domestic data. The Dow closed 85 points lower with the Nasdaq off 28.
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