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DTN Closing Livestock Comment 08/21 16:27
   Livestock Futures Shift Lower on Fundamental Pressure

   Continued weakness in cash hog values and the expectation that additional
supplies in the cattle complex will keep traders on the defensive left prices
mostly lower Monday. Light trade was seen late in the session, but this
followed overall pressure through most of the livestock market.

By Rick Kment
DTN Analyst


   Cash cattle trade remains undeveloped following generally mixed showlists
that were distributed through the morning. Asking prices are still hard to
define, but additional clarity will be trought to the market through the
upcoming days. Most active trade is expected to be delayed until Wednesday or
later, and could be pushed off until after the Cattle on Feed report Friday.
According to the closing report, the national hog base is $1.51 lower compared
with the Prior Day settlement ($68.00-$74.00) weighted average $71.85. Corn
futures moved lower in light activity. September futures were 3 cents lower
Tuesday. The Dow Jones Index is 29 points higher with the Nasdaq down 3 points.
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