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DTN Closing Livestock Comment 10/12 16:21
   Cattle Recovery Continues

   Live and feeder futures settled with solid progress, supported by
follow-through buying, short covering and the recent renewal of cash strength.
Lean hog contracts closed moderate higher with the help on constructive

By John Harrington
DTN Livestock Analyst


   Feedlot country was typically quiet for a Monday with packers collecting
showlist and then turning for home. The new offering appears to be somewhat
smaller than last week with only Colorado showing more ready steers and
heifers. Asking prices were poorly defined in the early going. According to the
closing report, the Iowa hog base is $0.23 higher compared with the Prior Day
settlement ($62.00-$73.00, weighted average $71.65). The corn market continued
to slide lower (i.e., settling 1-2 cents lower) in the face of harvest pressure
and maps of open weather through the week ahead. U.S. stocks closed mildly
higher as investors readied for the first major earnings reports due Tuesday.
The Dow finished 47 points higher with the Nasdaq better by 8.
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