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DTN Closing Livestock Comment 07/23 16:52
   Hog Futures Surge Higher

   Sharp gains redeveloped in lean hog futures following triple-digit moves
securing even more bullish underlying trade expectations.

By Rick Kment
DTN Analyst


   Sharp gains developed in lean hog futures Tuesday, sparking additional
bullish market action as nearby contracts tested limit gains. Firm support came
from gains in cash hog trade. Corn futures moved higher in sluggish trade.
September futures are 3 cents per bushel higher. Dow Jones Index is 177 points
higher with NASDAQ up 47 points. Cash cattle trade is quiet. A few bids and
asking prices are likely to develop during the day Wednesday. National Daily
Direct afternoon hog report is $2.71 higher with a weighted average of $78.80
per cwt. Full range of $64 to $82.50 per cwt on 11,522 head sold.
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