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DTN Closing Livestock Comment 10/29 16:12
   Livestock Futures Close Midweek Session Mostly Lower

   The cattle complex at the CME settled mostly lower with triple-digit losses
all too common in the feeder pit. On the other hand, lean hog futures finished
on a mixed basis with most of the trading energy focused on the short side of

By John Harrington
DTN Livestock Analyst


   Feedlot country was generally quiet at midweek with just a few scattered
bids reported around $168 in parts of the South and $263/$165 in parts of the
North. Asking prices did not seem to flinch, holding around $172-$173 in the
South and $270-plus in the North). According to the closing report, the Iowa
hog base closed $1.30 lower compared with the Prior Day settlement
($77.00-$87.00, weighted average $86.33). Corn futures bolted to 10-week highs,
closing generally 10 cents higher thanks to spillover support for the bean pit
and technical buying. U.S. stocks fell on Wednesday as Wall Street mulled the
ramifications of the monetary-policy decision from the Federal Reserve to end
monthly bond purchases, known as quantitative easing. The Dow closed 31 points
lower with the Nasdaq down 15.
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