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DTN Closing Livestock Comment 07/17 15:34
   Hog Futures See Boost in Buying Interest

   Nearby lean hog contracts extended their rally late in Wednesday's session
with gains of $2.95 in the August contract. Live cattle and feeder cattle,
meanwhile, pulled back with modest losses.

By Elaine Kub
DTN Contributing Analyst



   GENERAL COMMENTS:

   Alongside the plateau in live cattle futures, the cash cattle trade that's
developed so far this week is a somewhat mixed bag. Light trade was reported
late Wednesday morning in the South at $111, steady to $1 lower than last week.
However, other asking prices remain firm around $114 live and $186 plus in the
North, where eastern Nebraska business was clocked at $185 late Tuesday and
there were other deals by a regional in parts of Nebraska at $183 for delivery
two weeks out and $185 for delivery the week of Aug. 5. According to the
closing report, the national hog base was $1.10 higher ($57.00 to $74.00,
weighted average $70.43). Corn futures closed 3/4 cents higher. The stock
market pulled back 19 points in the S&P 500.
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