DTN Closing Livestock Comment 04/08 15:50
8 Apr 2016
DTN Closing Livestock Comment 04/08 15:50 Cattle Futures Explode With Triple-Digit Gains The cattle complex closed sharply higher with bulls scoring significant technical progress thanks to aggressive short-covering, technical buying and renewed cash optimism. Lean hog issues settled mostly higher, supported by late-week profit-taking and spillover support from cattle. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: From Friday to Friday livestock futures scored the following Changes: Apr LC, Up $1.40; Jun LC, Up $0.45; May FC, Off $1.85; Aug FC, Off $1.08, Apr LH, Off $0.98 May LH, Up $1.22. The late-week cash cattle trade was very slow with just a few dressed sales reported in parts of the North. Some dressed cattle in Nebraska and Iowa were marked at $216, $1 higher than both yesterday and last week. According to the closing report, the national hog base is $0.54 higher compared with the Prior Day settlement ($56.00-64.00, weighted average $63.34). Corn futures closed fractionally higher, up 3/4 cent in the May and December.