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DTN Closing Livestock Comment 01/17 15:34
   Cattle Futures Launch Holiday-Shorted Week With Solid Gains

   Live and feeder contracts closed with decent price progress, supported by
follow-through buying and recent cash progress. Lean hog futures settled on a
mixed basis, though the first six issues finished consistently higher.

By John Harrington
DTN Livestock Analyst


   Cattle feeding country was generally quiet as buyers focused on the
assessment of new showlists. The mid-month offering appears to be generally
smaller than last week with only Colorado showing a few more ready steers and
heifers. Some cattle were priced around $122 in the South and $192-$195 in the
North. According to the closing report, the national hog base is $0.44 higher
($58.00-$63.75, weighted average $62.40). The corn market surged 7 cents plus
higher with nearby contracts notching 11-week highs. Corn was supported by
fears of flooding in Argentina and a softer dollar. The Dow closed 59 points
lower with the Nasdaq off 35.
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