DTN Closing Livestock Comment 12/01 15:45
1 Dec 2015
DTN Closing Livestock Comment 12/01 15:45 Cattle Futures Stage Bullish Reversal After trading significantly lower through most of the session, live and feeder cattle futures reversed sharply higher thanks to aggressive short-covering and positive demand expectations. Lean hog contracts also closed sharply higher, supported by improving fundamentals and technical buying. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The cash cattle trade was very quiet through the day with only a few starter bids identified in parts of the North (i.e. $194 to $195 dressed). Significant trade volume could be delayed until Thursday or Friday. According to the closing report, the Iowa hog base is .42 higher compared with the Prior Day settlement ($47.00-$53.50, weighted average $52.70). Corn futures closed up 1 1/2 cents in the March contract and up 3/4 cent in the July.