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DTN Closing Livestock Comment 08/29 16:08
   Cattle Complex Closes Mostly Lower

   Live and feeder futures closed significantly lower with triple-digit losses
evident in both markets. For the most part, lean hog contracts settled
moderately lower, checked by profit-taking and long liquidation.

By John Harrington
DTN Livestock Analyst



GENERAL COMMENTS:

   Usual early week activity in feedlot country was limited to the distribution
of showlists. The new offering looks generally larger with only Colorado
showing fewer ready steers and heifers. Yet this Monday proved to be bearishly
abnormal with light trade volume already surfacing in parts of Nebraska.
Several thousand live sales were reported at $110-$111, $3.50-$4.50 lower than
last week's weighted average. According to the closing report, the national hog
base is $0.71 lower compared with the Prior Day settlement ($54.00-$61.50,
weighted average $59.97). The corn market closed 3-4 cents lower with December
setting a new contract low.  Early week selling seem tied to timely late-summer
rains and bumper crop worries. Stocks closed higher on Monday, with financials
and materials leading, as investors digested economic data while looking for
clues regarding the Fed's next move. The Dow closed 107 points higher with the
Nasdaq better by 13.
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