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DTN Closing Livestock Comment 11/20 16:39
   Cattle Futures Tumble Sharply Lower

   The cattle complex closed sharply lower, pounded by long liquidations and
the bearish implications of large October placement activity. Conversely, lean
hog futures settled significantly higher with the first four months leading the
early week charge.

By John Harrington
DTN Livestock Analyst



   GENERAL COMMENTS

   The feedlot trade was not tested Monday with buyers and sellers limiting
early week efforts to the distribution of new showlists. Ready numbers seem
generally larger than last week with only Texas offering fewer steers and
heifers. A few preliminary live bids were noted at $117-$118 in several areas.
According to the closing report, the national hog base is $.50 lower
($51.00-58.25, weighted average $57.60). The corn market closed 1-2 cents
higher thanks to light commercial buying and some bottom-picking interest. Wall
Street closed generally higher with the Dow up 72 points and the Nasdaq better
by 7.
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