DTN Closing Livestock Comment 04/13 16:30
13 Apr 2016
DTN Closing Livestock Comment 04/13 16:30 Livestock Futures Roll Lower at Midweek Cattle futures settled substantially lower, pressured by long liquidation and technical selling. Lean hog contracts also struggled on the close with May through October losing triple digits. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Feedlot country remained untested at midweek with just a few preliminary bids noted here and there (e.g., $131-$132 in the South, $214-$215 in the North). Some showlists in Kansas and Nebraska were priced around $136-$138). According to the closing report, the national hog base is $1.07 higher compared with the Prior Day settlement ($54.00-$65.00, weighted average $62.51). The corn market surged a good dime higher, spurred by encourage import news from China and dry growing conditions in Brazil. U.S. stocks closed 1%-plus higher, helped in part by a rally overseas after encouraging China trade data. The Dow closed 187 points higher with the Nasdaq better by 75.