DTN Closing Livestock Comment 02/03 16:30
3 Feb 2016
DTN Closing Livestock Comment 02/03 16:30 Cattle Futures Stick Solid Gains The cattle complex settled higher with the live market outperforming the feeder trade. Lean hog issues closed moderately higher, supported by reports of cash and product strength. By John Harrington DTN Senior Analyst GENERAL COMMENTS: Real issues of cash cattle trading have not yet made it to the table this week, and they may not be seriously considered until sometime Friday. Most feedlots in the central Plains and Western Corn Belt were too preoccupied digging out from the early week blizzards to even consider bids or asking prices. A few steers and heifers in parts of the South were priced around $142. According to the closing report, the Iowa hog base is NA compared with the Prior Day settlement. Corn futures settled a penny plus lower, checked by signs of softening ethanol demand. U.S. stocks closed mostly higher as the Dow and S&P staged a massive comeback spurred by a surge in oil. The Dow closed 183 points higher with the Nasdaq down by 12.