Wednesday, November 26, 2014  
 
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DTN Closing Livestock Comment 11/26 16:21
   Cattle Futures Break Going Into Thanksgiving

   Reversing once again from early session highs, live and feeder cattle
contracts closed solidly lower, pressured by uncertain cash business and a
general lack of buying interest. On the other hand, the lean hog pit settled
mixed at the conclusion of a directionless, lightly traded session.

By John Harrington
DTN Livestock Analyst



GENERAL COMMENTS:

   Light to moderate trade volume surfaced total in parts of Kansas (i.e.,
$173, steady) and Nebraska (i.e., $266-$267, weak to $1 lower). It would appear
that cattle buyers will still have some work to do on Friday, but final trade
volume totals Wednesday could turn out to be larger than we think. According to
the closing report, the Iowa hog base closed $0.60 lower compared with the
Prior Day settlement ($80.00-$87.50, weighted average $86.68). Corn futures
finished generally 3-4 cents higher, supported by a lack of farmer selling and
firming basis levels. U.S. stocks gained on Wednesday with the Dow and S&P 500
finishing at record levels once again. The Dow closed 12 points higher with the
Nasdaq up 29.
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