DTN Closing Livestock Comment 12/02 15:20

DTN Closing Livestock Comment 12/02 15:20
   Livestock Futures Close Week with Gains

   The livestock markets ended the week on a higher note, shaking off the
demand anxieties from earlier in the week, but not exploring any fresh highs
either.

Elaine Kub
Contributing Analyst

GENERAL COMMENTS

   Feeder cattle futures posted the most impressive gains during Friday's
trading session and on a week-over-week basis, but neither this market nor the
live cattle nor lean hogs dared to explore any fresh contract highs during a
week when global economic uncertainty was emphasized. In the cash cattle
market, most of this week's Southern live deals took place at $155, fully
steady with last week's weighted averages, but some improvement was noted
Friday afternoon with live bids of $158 or $159 in Iowa and Nebraska. Northern
dressed deals were marked mostly at $249, $4 higher than last week's weighted
averages. The National Direct Afternoon Hog Report showed purchased swine
prices down $3.04 to a weighted average of $82.22 on 3,705 head. Prices ranged
from $74 to $88, and the five-day rolling average is now $84.95. December corn
moved down 15 cents to $6.35 per bushel and January soybean meal closed up
$2.50 per ton to $424.10. The Dow Jones Industrial Average was up 34.80 points
and the NASDAQ was down 47.64 points.