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DTN Closing Livestock Comment 07/24 15:52
   Live and Feeder Futures Clobbered by Bearish Supply News

   The cattle complex closed sharply lower Monday, pressured by the negative
implications of inventory reported unveiled on Friday. Lean hog issues settled
moderately lower thanks to long liquidation and signs of faltering fundamentals.

By John Harrington
DTN Livestock Analyst



   GENERAL COMMENTS

   Activity in feedlot country was typically limited to the distribution of new
showlists. The late month offering is generally larger with only Texas showing
fewer ready steers and heifers. According to the closing report, the national
hog base is $0.93 lower ($77.00-83.50, weighted average $82.39). The corn
market closed several cents lower, checked by weather maps promising milder
temps and chances for rain over much of the main growing area. The stock market
settled on a mixed basis with the Dow off 66 points and the Nasdaq better by 23.
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