DTN Closing Livestock Comment 02/19 16:11

DTN Closing Livestock Comment 02/19 16:11 Late-Week Profit-Taking Cause Cattle to Close Mostly Lower Retreating from early-session highs, live and feeder cattle contracts settled mostly lower with feeders losing ground to their live counterparts. Lean hog contracts finished significantly lower with April through June suffering triple-digit losses. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: From Friday to Friday livestock futures scored the following Changes: Feb LC, Up $5.42; Apr LC, Up $4.83; Mar FC, Up $5.85; May FC, Up $4.13, Apr LH, Off $1.47 May LH, Off $1.02. Light to moderate cattle trading developed in parts of the North today with most dressed sales marked at $210, generally $4 to $5 higher than last week's weighted average basis Nebraska. On the other hand, the South was slow in developing with feedlot managers generally rejecting bids as high as $132. We expect some business to develop in Kansas and Texas later this afternoon. According to the closing report, the Iowa hog base is $0.64 lower compared with the Prior Day settlement ($58.00-$64.50, weighted average $63.44). Corn futures closed unchanged in the March and July contracts.