DTN Closing Livestock Comments         09/02 16:28
   Lean Hogs Bounce Significantly Higher

   Meat futures scored decent progress across the board though triple digit
gains in the lean hog pit proved especially impressive. Short covering and fund
buying appeared to be the major features through the positive session.

By John Harrington
DTN Livestock Analyst

 GENERAL COMMENTS:

   According to the closing report, the Iowa hog base was $1.10 lower compared
with the prior day settlement ($70.50-77.70, weighted average $76.92). Cattle
feeding country was very slow, though bids that bought stock yesterday were
renewed in most areas. Just a little clean-up traffic was reported in parts of
the north at $152-153. Business could be done for the week, but trade volume
total looks light, especially in Texas, Although the corn market traded several
cents lower for most of the day, late short covering allowed contracts to close
about a penny higher and near session highs. The stock market extended its
rally, helped when reports on housing, manufacturing and jobs suggested that
the economy continues to grow. For example, the number of buyers who signed
contracts to purchase homes rose 5.2 percent in July after hitting a record low
in June, according to the National Association of Realtors. The Dow closed 50
points higher and the Nasdaq advanced by 23.