DTN Closing Livestock Comment 12/16 15:47
16 Dec 2015
DTN Closing Livestock Comment 12/16 15:47 Late-Session Short-Covering Minimizes Cattle Futures Loss The cattle complex closed mixed in the live trade and moderately lower in the feeder market. Lean hog contracts settled on a mixed basis with nearbys losing ground to deferred contracts. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Light to moderate trading developed in the southern tier of cattle feeding country. Most live sales were marked at $117 to $118, $1 to $2 lower than last week. Packer buying interest in the North was light to moderate, but not good enough to generate a significant market test. According to the closing report, the Iowa hog base is $0.94 lower compared with the Prior Day settlement ($46.50-$51.00, weighted average $49.93). Corn futures closed down 7 1/2 cents in the March and down 6 3/4 in the July.