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DTN Closing Livestock Comment 11/09 17:56
   Beef Futures Exit Week With Ugly Losses, Disappointed by Reluctant Packer

   Live and feeder closed with triple-digit losses, pulled lower by faltering
country bids and tough wholesale beef demand. Lean hog futures settled mostly
lower with 2019 contracts catching the most selling interest.

By John Harrington
DTN Livestock Analyst


   A light-to-moderate trade has developed in parts of the North, with live
deals marked at $113 to $114.50, generally $1.50 to $2 lower than last week.
Dressed business in that area ranges from $179 to $180, steady to $1 lower than
last week's weighted average basis Nebraska. A light-to-moderate trade has also
surfaced in parts of the South with live deals at $114 to $115, mostly $114,
generally $2 lower than last week. According to the closing report, the
national hog base is $0.97 lower compared with the Prior Day settlement
($48-$54.75, weighted average $53.35). December corn fell a short 4 cents
lower, checked by larger-than-expected stocks held by China. The stock market
closed lower with the Dow off 201 and the Nasdaq down by 123. From Friday to
Friday, livestock futures scored the following changes: Dec LC, off $2.50; Feb
LC, off $4.40; Nov FC, off $3.50; Jan FC, off $5.95; Dec LH, off $2.32; Feb LH,
off $5.15.
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