DTN Closing Livestock Comment 12/03 16:05
   Losses Seen in All Three Livestock Markets

   With cash cattle prices not what feedlots had hoped for and the futures
market closing fully lower in all three markets, Thursday wasn't what livestock
enthusiasts like to see.

ShayLe Stewart
DTN Livestock Analyst

   GENERAL COMMENTS:

   Thursday wasn't a great day for the livestock contracts as all three markets
veered lower and any support that could have helped save some positioning
surely didn't reveal itself before the day's close. Hog prices closed lower on
the National Direct Afternoon Hog Report, down $0.81 with a weighted average of
$55.88 on 6,906 head. March corn is up 2 3/4 cents per bushel and January
soybean meal is up $4.40. The Dow Jones Industrial Average is up 85.73 points
and NASDAQ is up 27.81 points.