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DTN Closing Livestock Comment 02/12 16:28
   Cattle Futures Close Troubled Week With Further Declines

   While the cattle complex tried to rally in the early going, late selling
based on bearish fundamentals and technical concerns caused live and feeder
issues to close moderately lower. On the other hand, lean hog futures settled
mixed with nearbys gaining on deferreds.

By John Harrington
DTN Livestock Analyst


   Light-to-moderate trading was reported in parts of Colorado Friday with fed
steers and heifers marked at $130.00, generally $2.00 lower than last week.
But, for the most part, country activity was very quiet in the wake of
Thursday's activity. The Iowa hog base closed $0.02 lower compared with the
Prior Day settlement ($52.00-$65.00, weighted average $63.30). From Friday to
Friday livestock futures scored the following changes: Feb LC, off $6.10; Apr
LC, off $5.28; Mar FC, off $3.80; May FC, off $4.23, Feb LH, up $1.15 Apr LH,
up $0.07. Corn futures closed about a penny lower in very light trade volume.
Selling was tied to slow exports and decent prospects for South American
production. The stock market finally bounced higher right before the weekend,
supported by sharply higher oil prices and oversold conditions. The Dow closed
313 points higher with the Nasdaq better by 70.
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