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DTN Closing Livestock Comment 01/19 16:54
   Late-Week Profit-Taking Causes Upset in Livestock Futures to Close Mostly
Lower

   The cattle complex settled generally lower with triple-digit losses evident
in the feeder market. Although lean hog futures finished on a mixed basis, most
trading interest seemed to be interested in pressuring nearby issues.

By John Harrington
DTN Livestock Analyst



   GENERAL COMMENTS

   Market watchers had to be patient this week, but the cash cattle trade
finally developed late Friday afternoon with packers paying more for short-term
slaughter needs. Live sales in the South are mostly marked at $123, $3 higher
than last week. Most dressed sales in the North were marked at $195, $3 higher
than last week's weighted average basis Nebraska. The National hog base closed
off $0.35 compared with the Prior Day settlement ($62-$71.50, weighted average
$69.36). From Friday to Friday, livestock futures scored the following changes:
Feb LC up $4.53; Apr LC up $3.27; Jan FC up $3.60; Mar FC up $2.95; Feb LH up
$0.50; Apr LH up $1.18. Corn futures closed generally a penny higher, modestly
firming from the lows set last week. The stock market settled higher with the
Dow off 53 and the Nasdaq better by 40.
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