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DTN Closing Livestock Comment 05/18 16:12
   Beef Futures Close Week in the Red

   The cattle complex tried to stabilize early Friday, but late-selling caused
both live and feeder contracts to settle significantly lower. Lean hog
contracts also closed lower, pressured by long liquidation and late-week
profit-taking.

By John Harrington
DTN Livestock Analyst



   GENERAL COMMENTS

   The cash cattle market was not tested Friday following sharply lower
business on Tuesday through Thursday. For the week, live prices slumped as much
as $10 to $12 lower than last week. The National hog base closed off $0.16
compared with the prior day settlement ($59-$66, weighted average $64.89). From
Friday to Friday, livestock futures scored the following changes: Jun LC off
$5.22; Aug LC off $6.20; May FC off $6.20; Aug FC off $6.28; Jun LH off $0.40;
Jul LH up $0.28. Corn futures staged an impressive rally to close the week
advancing by 7 cents and more. This market was supported by rumors of a new
deal between the U.S. and China, lower estimates of the Brazilian corn crop,
and a large wave of commercial-buying. The stock market closed narrowly mixed
with the Dow up 1 point and the Nasdaq down by 28.
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