DTN Closing Livestock Comment 03/29 16:06
29 Mar 2016
DTN Closing Livestock Comment 03/29 16:06 Cattle Futures Finish Narrowly Mixed At the conclusion of a fairly choppy trade, live and feeder cattle contracts settled narrowly mixed. On the other hand, lean hog futures closed moderately higher, supported by follow-through buying and positive H&P implications. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The cash cattle market didn't move a muscle Tuesday as both buyers and sellers waited for the other to blink before making suggestions of value. A few showlists were priced around $138-plus in the North and $220-plus in the South. According to the closing report, the Iowa hog base is $0.10 higher compared with the Prior Day settlement ($58.00-64.00, weighted average $63.07). Corn futures settled several cents stronger, notching a seven-week high with the help of bean and wheat buying. U.S. stocks closed higher, led by gains in tech stocks. Investors seemed encouraged by relatively dovish remarks from Fed Chair Yellen. The Dow closed 97 points higher with the Nasdaq better by 79.