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DTN Closing Livestock Comment 05/23 17:07
   Limit Losses Dominate Closing Cattle Future

   The cattle complex settled sharply lower with the majority on contracts
settling as low as exchange rules allowed. Lean hog issues closed significantly
lower, pressured by spillover bearishness from cattle futures and technical
selling.

By John Harrington
DTN Livestock Analyst



GENERAL COMMENTS:

   Activity in feedlot country was limited to the distribution of new
showlists. Ready numbers in late May appear to be mixed, some larger in the
North but a good deal smaller in the South (especially Texas). Asking prices
were few and far between. According to the closing report, the national hog
base is $0.05 lower compared with the Prior Day settlement ($67.00-$75.75,
weighted average $74.62). Corn futures settled 3 cents higher, supported by
ideas that more rain in the forecast may cause some corn farmers to plant
beans. U.S. stocks closed lower in low volume. The Dow closed off 8 points with
the Nasdaq down 3.
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