DTN Closing Livestock Comment 04/12 15:51
12 Apr 2016
DTN Closing Livestock Comment 04/12 15:51 Cattle Futures Conclude Choppy Session With Moderate Losses Live and feeder contracts settled moderately lower, checked by follow-through selling and cash market uncertainty. Lean hog issues settled on a mixed basis with summer contracts losing ground to both spot April and far deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The cash cattle market remained a blank slate Tuesday, cluttered by neither bids nor asking prices. We did hear a little talk in parts of the South regarding asking prices around $138, but hardly enough to represent real selling interest. According to the closing report, the national hog base is 0.33 lower compared with the Prior Day settlement ($55.00-$63.00, weighted average $61.24). The corn market closed 5-6 cents higher, ignoring the USDA's increase in 2015-2016 carryout. The stock market closed significantly higher, powered by energy issues as crude topped $42 a barrel. The Dow finished 164 points higher with the Nasdaq better by 38.