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DTN Closing Livestock Comment 11/20 16:36
   Hog Futures Tumble Tuesday

   Sharp losses developed in nearby lean hog trade Tuesday despite limited
activity through most of the session. Even with the market tumble, which pushed
December contracts $2.05 per cwt, markets remain well above support levels due
to recent market rallies.

By Rick Kment
DTN Analyst


   Cash cattle interest is very limited with bids and asking prices generally
quiet at this point in the week. Bids are expected to be more readily available
through the day Wednesday as both sides desire to lock down cash cattle
business before they go home Wednesday night. The option remains for both sides
to come back Friday after the Thanksgiving break, but all parties are expected
to try to avoid the scenario. According to the closing report, the national hog
base is $0.51 lower compared with the Prior Day settlement ($46.00-$52.50,
weighted average $51.27). Corn futures are lower in light activity. December
futures were 1 cent lower. Dow Jones Index is 551 points lower with Nasdaq down
119 points.
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