DTN Closing Livestock Comment 04/05 15:54
5 Apr 2016
DTN Closing Livestock Comment 04/05 15:54 Cattle Futures Implode Thanks to Aggressive Long Liquidation Live and feeder cattle futures closed sharply lower, pressured by long liquidation, technical selling and beef demand nervousness. Lean hog futures settled on a mixed basis with deferreds gaining on nearbys. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The cash cattle trade was lightly tested with lived scattered sales reported in parts of Kansas and Texas at $132 to $133, steady to $1 lower. A few dressed deals in the North were marked at $212, roughly $3 lower than last week's weighted average basis Nebraska. According to the closing report, the national hog base is $0.51 lower compared with the Prior Day settlement ($56.00-$63.75, weighted average $63.18). Corn futures closed higher, up 2 1/4 in the May and up 2 cents in the December.