DTN Closing Livestock Comment 11/06 16:07
6 Nov 2015
DTN Closing Livestock Comment 11/06 16:07 Cattle Rally Off Session Lows to Close No Worse Than Mixed Live and feeder cattle futures closed a tough week with mixed prices, supported late by short-covering and bears taking profits. Lean hog futures also settled mixed with nearbys losing more ground to deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: From Friday to Friday livestock futures scored the following changes: Dec LC, Off $6.80; Feb LC, Off $6.27; Nov FC, Off $9.28; Jan FC, Off $11.18, Dec LH, Off $4.20 Feb LH, Off $4.45. The cash cattle trade remained extremely slow despite the fact that packers hadn't purchased much inventory all week long. Some business was reported in the South at $134, $4 lower than last week. Scattered business in the North was marked at $202 to $203 on a dressed basis and $128 to $135 live. The scattered nature of the trade makes it difficult to define specific trends. According to the closing report, the Iowa hog base is $1.41 lower compared with the Prior Day settlement ($50.00-$54.25, weighted average $53.48). Corn futures closed lower, down 1 1/2 in the December and down 1/4 in the July.