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DTN Closing Livestock Comment 10/27 16:52
   Hog Contracts Rip Higher With Triple-Digit Gains

   Lean hog futures settled sharply higher, supported by growing confidence
that a reliable market bottom is now in place. The cattle complex closed
solidly higher in the live market and narrowly mixed in the feeder trade.

By John Harrington
DTN Livestock Analyst


   Although a small set of higher bids surfaced in parts of cattle feeding
country Thursday, for the most part the cash trade remained untested. Some
scattered biz was reported in pockets of Nebraska and Iowa (e.g., $101-$102
live, $160-$162 dressed), but not enough to seriously call of trend. According
to the closing report, the national hog base is $0.86 lower compared with the
Prior Day settlement ($42.50-$46.00, weighted average $44.75). Supported by
another round of commercial buying, corn futures settled another 3 cents
higher. U.S. equities closed lower as investors sorted through a fresh batch of
corporate earnings. The Dow closed 29 points lower with the Nasdaq down by 34.
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