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Hog futures surge on China news

At the Chicago

Mercantile Exchange, cattle futures ended the day with moderate gains on

technical buying.  April closed $.72

higher at $127.40 and June closed $1.02 higher at $120.35. March closed $.45

lower at $141 and April closed $.52 higher at $144.65. 

Direct cash cattle trade activity is quiet, as severe weather has moved in much of cattle country.  There was a light to moderate trade that developed Wednesday at $127 live and mostly $204 dressed.  Both are $1 lower than the previous week’s weighted averages.  Asking price for cattle left on showlists are $130 live and $206 dressed.  Business in the South has yet to develop.

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