DTN Closing Livestock Comments         09/08 16:06
   Live Cattle, Lean Hogs Rebound From Yesterday's Crash

   Cattle futures rallied back in the wake of Tuesday's triple digit collapse.
Live contracts especially recovered with the help of steady/firm packer
spending in the country and short covering activity. Lean hogs also bounced
back, though Feb and April demonstrated more resilience than either nearbys or
far deferreds.

By John Harrington
DTN Livestock Analyst

 GENERAL COMMENTS:

   Short bought cattle buyers went after stock today, even if it meant giving a
little more money here and there. Trade volume turned moderate to fairly active
in most areas with Kansas and Nebraska reporting the busiest sales. Live prices
in the South were steady to $1 higher, $97-98. The dressed trade in the North
ranged from $152-154, mostly steady to #1 higher. According to the closing
report, the Iowa hog base was .16 higher compared with the prior day settlement
($70.00-83.99, weighted average $80.42). Corn futures settled generally 4 cents
lower, clipped by profit taking and positioning before new supply and demand
data is released on Friday. Wall Street resumed its rally Wednesday after a
successful auction of Portuguese government debt eased worries about Europe's
financial system. The Dow finished 46 points higher and the Nasdaq gained 19.