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DTN Closing Livestock Comment 07/12 15:57
   Outside Bullishness Affects Livestock Prices

   Cash cattle business took an upward swing Friday afternoon. Live cattle and
lean hog futures similarly gained during a week of overall economic enthusiasm.
Feeder cattle, on the other hand, moved downward when the corn market jumped up
by double digits.

By Elaine Kub
DTN Contributing Analyst

   GENERAL COMMENTS: From Friday to Friday, livestock futures scored the
following changes: August live cattle up $1.48, October live cattle up $1.90,
August feeder cattle up $2.78, September feeder cattle up $3.85, July lean hogs
down $1.08, August lean hogs up $3.60. Cash cattle business conducted on Friday
afternoon took place $2 higher than last week, with most of the volume of
dressed sales hitting $182 and a smaller volume at $183 (set for delivery the
week of July 22). Firm asking prices around $113 (live) have led to a Friday
afternoon standoff in the South. The closing summary showed the national hog
base at $0.16 higher ($56-$71, weighted average $67.99). September corn futures
closed 10 cents higher Friday and 15 1/2 cents higher for the week. Soybean
meal similarly gained $2.50 Friday and $9 through the week. The stock market
(S&P 500) had a bullish, record-setting week and closed at a fresh record high:
3,013 points.
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