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DTN Closing Livestock Comment 08/27 16:04
   Cattle Futures Finally Catch Major Bounce of Recovery

   For the most part, the cattle complex settled significantly higher,
supported by aggressive short covering and pre-cash positioning. In contrast,
lean hog issues finished no better than mixed with nearbys generally losing
ground to deferreds.

By John Harrington
DTN Livestock Analyst



GENERAL COMMENTS:

   Cattle buying interest remained quite guarded with packers bid (i.e., $144
in the South, $225-$228 in the North) far below asking prices (i.e., $150 in
the South, $236 plus in the North). According to the closing report, the Iowa
hog base is $1.22 lower compared with the Prior Day settlement ($67.25-$74.50,
weighted average $73.25). The corn market settled 2-3 cents higher, possibly
supported by spillover strength from the bean pit and ideas of
lower-than-expected yields. The stock market closed more than 2% higher in a
second straight day of recovery from its recent plunge. The Dow jumped by 369
points with the Nasdaq up 115.
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