DTN Livestock Close: Late-Week Profit-Taking Lifts Cattle Futures Higher

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The cattle complex closed the week with a last minute round of short-covering, causing feeders to gain somewhat on live counterparts. Lean hog issues settled mostly higher, supported by short-covering and generally positive fundamentals.

GENERAL COMMENTS

The cash cattle trade was very quiet Friday with most showlists cleaned up thanks to early week business. The National hog base closed off $0.45 compared with the Prior Day settlement ($63.00-$41.50, weighted average $69.45). From Friday to Friday livestock futures scored the following changes: Feb LC off $1.88; Apr LC off $1.40; Jan FC off $2.27; Mar FC up $0.68; Feb LH up $0.15; Apr LH off $1.75.

Corn futures closed 2 cents plus lower, pressured by a higher crop estimate and higher than expected December 1 stocks. The stock market closed higher with the Dow up 228 and the better by 49 NASDAQ.

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