DTN Closing Livestock Comment 07/25 16:31
   Cattle Futures Tumble Lower Late-Day Tuesday

   Moderate-to-sharp losses developed across live cattle and feeder cattle
markets in the last half of the trading session Tuesday. This created even more
uncertainty in the cattle complex. Hog futures have bounce higher in late-day
market shifts, following cattle losses.

By Rick Kment
DTN Analyst



   GENERAL COMMENTS

   Cash cattle trade is undeveloped with bids and asking prices remaining
generally undefined through the end of the day Wednesday. The first evidence of
cash market activity is likely going to be the fed cattle exchange auction,
which will trade Wednesday morning. But feedlot trade will not likely fully
develop until the second half of the week. According to the closing report, the
national hog base is $0.31 lower compared with the prior day settlement
($77.00-$83.74, weighted average $82.08). Corn futures moved lower in light
activity. September futures were 8 cents lower Tuesday. The Dow Jones Index is
100 points higher with the Nasdaq up 1 point.