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DTN Closing Livestock Comment 05/25 16:39
   Meat Futures Score Moderate Benefit From Midweek Short-Covering

   For the most part, cattle contracts closed moderately higher, cautiously
supported by short-covering and technical buying. Lean hog issues also settled
with moderate gains thanks to midweek profit-taking and still decent odds for
seasonal strength.

By John Harrington
DTN Livestock Analyst


   The cash cattle arena remained poorly defined with just a few scattered bids
evident here and there (e.g., $197 in the North, $124 in the South). Some
showlists were priced around $200-$205 in the North and $130 in the South.
According to the closing report, the national hog base is .87 lower compared
with the Prior Day settlement ($65.00-$74.75, weighted average $74.44). Corn
futures surged 6-7 cents higher with spot July moving to its highest level in
seven months. U.S. stocks closed higher with energy leading as oil rose above
$49 a barrel to hit fresh highs for the year so far. The Dow closed 145 points
higher with the Nasdaq better by 33.
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