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DTN Closing Livestock Comment 04/28 16:36
   Cattle Futures Implode Thanks to Long Liquidation, Beef Demand Worries

   Live and feeder cattle contracts were socked with triple-digit losses,
pressured by long liquidation, technical selling, and signs of struggling
seasonal demand. Lean hog futures closed with a firm undertone, especially in
the summer contracts.

By John Harrington
DTN Livestock Analyst


   Light to moderate business developed in cattle-feeding country with the best
action evident in eastern Nebraska. Most Northern dressed sales were marked at
$196, generally $4 lower than last week. Scattered live deals were reported in
parts of the South at $124, $3 lower than the week before. According to the
closing report, the national hog base is .18 higher compared with the Prior Day
settlement ($62.00-70.50, weighted average $68.41). Corn futures finished 5-6
cents higher, supported by last week's export sales of 85.1 million bushels, a
new marketing year high. U.S. stocks closed about 1% lower as fresh declines in
Apple weighed on the major averages. The Dow closed 210 points lower with the
Nasdaq off 57.
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