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DTN Closing Livestock Comment 10/23 16:45
   Cattle Futures Ignore Bearish Placement News to Close No Worse Than Mixed

   After a rough opening based on the bearish on feed report released late last
week, cattle futures recovered to close mixed in the live market, and only
modestly lower in the feeder trade. Nearby lean hog futures closed under
pressure while their deferred counterparts finished near steady.

By John Harrington
DTN Livestock Analyst


   Feedlot country was a naturally a slow affair as buyers focused exclusively
on the collection of new showlists.  The late month offering looks generally
smaller than last week, especially in the South. According to the closing
report, the national hog base is $.39 higher ($60.00-$66.50, weighted average
$64.85). The corn market stepped into the new week with confidence for once,
closing 6 cents plus lower thanks to short covering and commercial buying. The
stock market closed lower with the Dow off 54 points and the Nasdaq down by 42.
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