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DTN Closing Livestock Comment 11/12 17:21
   Oversold Lean Hog Futures Bounce Sharply Higher

   Aggressive short-covering sponsored sharp gains in lean hog futures to start
the week as the board surged triple digits toward the cash index. On the other
hand, the cattle complex closed mixed thanks to profit-taking and long
liquidation.

By John Harrington
DTN Livestock Analyst



   GENERAL COMMENTS:

   Feedlot country was typically quiet with packers focused exclusively on the
collection of new showlists. The new offering appears to be generally smaller
with only Kansas showing more ready steers and heifers. According to the
closing report, the national hog base is $1.51 lower compared with the Prior
Day settlement ($47-$54.75, weighted average $51.89). Corn prices closed 1-2
cents higher in lackluster action. The stock market crashed hard Monday with
the Dow off 602 points and the Nasdaq down by 206.
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