DTN Closing Livestock Comment 01/08 15:48
8 Jan 2016
DTN Closing Livestock Comment 01/08 15:48 Ugly Week on Wall Street Forces Cattle Still Lower The cattle complex closed significantly lower, especially in the feeder market, pressured by outside markets and uncertain packer spending. Lean hog futures settled mixed thanks to late week spreading and profit taking. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The late-week cash cattle trade remained light on Friday with producers reluctant to accept lower packer bids. Some cash dressed sales in the North were marked near $210, generally $2 lower than last week. The South was very quiet with just a few scattered sales marked at $133, $1 to $2 lower. According to the closing report, the Iowa hog base is $1.08 higher compared with the Prior Day settlement ($43.50-$53.00, weighted average $51.85). Corn futures closed up 4 cents in the March and up 4 1/2 cents in the July.