DTN Closing Livestock Comment 11/23 16:31
23 Nov 2015
DTN Closing Livestock Comment 11/23 16:31 Cattle Futures Launch Short Week With Solid Gains Live and feeder contracts closed sharply higher, supported by aggressive short covering and ideas of better beef demand after Thanksgiving. For the most part, lean hog futures settled modestly lower in light trade volume. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Feedlot country experienced a typically quiet Monday with packer efforts limited to the collection of new showliusts. The fed offering appears to be mixed, slightly larger in Nebraska, Colorado, and Kansas, but smaller in Texas. According to the closing report, the Iowa hog base is 0.16 lower compared with the Prior Day settlement ($49.00-$52.25, weighted average $51.91). Corn futures settled 3-4 cents higher, support by short covering and commercial buying. Equities closed mildly lower tied to fluctuations in oil prices and economic reports waiting in the wings. The Dow closed 31 points lower with the Nasdaq down 2.