DTN Closing Livestock Comment 03/07 16:28
7 Mar 2016
DTN Closing Livestock Comment 03/07 16:28 Bear-Spreading Interest Pressures Nearby Lean Hog Futures The lean hog market closed with mixed prices tied to bear-spreading interest and nearby profit-taking. The cattle complex settled moderately lower in the live trade and mixed in the feeder market. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Cattle feeding country was typically limited Monday to the distribution of new showlists. Ready numbers appear to be mixed, smaller in Texas, Colorado and Nebraska, but larger in Kansas. Overall, the spot fed supply seems about steady with the prior week. According to the closing report, the Iowa hog base is $0.55 higher compared with the Prior Day settlement ($55.00-$64.00, weighted average $63.15). Corn futures finished modestly higher with token help from higher action in the wheat and some evidence of oversold charts. The stock market closed mixed, steadying after their first three-week rally of the year. The Dow settled 67 points higher with the Nasdaq off 8.