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DTN Closing Livestock Comment 09/19 16:26
   Meat Futures Close Higher on Late-Week Short Covering

   The cattle complex closed mostly higher with feeder contracts out preforming
their live counterparts. The lean hog pit also settled mostly higher with spot
October finishing limit up.

By John Harrington
DTN Livestock Analyst


   Light to moderate trading developed in feedlot country this afternoon with
most live business in the South marked at $159.00, $2.00-$3.00 lower than last
week. On the other hand, dressed deals in the North were mostly $245.00,
roughly $4.00 lower than last week's weighted average basis Nebraska. According
to the closing report, the Iowa hog base closed 1.00 higher compared with the
Prior Day settlement ($96.00-108.00, weighted average $105.82). Corn futures
closed generally $0.06 lower, pressured by aggressive selling in the bean and
wheat pits. The stock market closed mostly higher, supported by Alibaba's
market debut and Scotland's decision to remain in the UK. The Dow closed 13
points higher, with the Nasdaq off 13. From Friday to Friday, livestock futures
scored the following changes: Oct LC, Off $0.65, Dec LC, Off $0.55; Sep FC, Up
$1.13; Oct FC, Up $2.80; Oct LH, Up $0.27; Dec LH, Off $1.45.
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