DTN Closing Livestock Comment 04/11 16:22
11 Apr 2016
DTN Closing Livestock Comment 04/11 16:22 Meat Futures Close Mostly Lower Unable to hold early gains, cattle futures closed under pressure, checked by profit-taking and early week long liquidation. Lean hog issues also settled in the red with May and June attracting most of the selling interest. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: As usual, early week activity in feedlot country was limited to the distribution of new showlists. Ready numbers are generally larger, especially in Nebraska. Neither initial bids nor asking prices were well defined. According to the closing report, the national hog base is $0.45 lower compared with the Prior Day settlement ($56.00-64.00, weighted average $61.53). Corn futures faltered by 5-6 cents on the close, pressured by spillover selling from the wheat market and positioning ahead of new s&d tables set for release on Tuesday. U.S. stocks closed lower as investors looked ahead to earnings season. The Dow closed 20 points lower with the Nasdaq off 17.