DTN Closing Livestock Comment 04/18 16:02
18 Apr 2016
DTN Closing Livestock Comment 04/18 16:02 Cattle Futures Shock Seasonal Bulls With Near-Limit Losses Live and feeder futures imploded Monday with a large handful on contracts losing the legal limit. On the other hand, lean hog issues settled on a mixed basis with nearbys gaining on deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Activity is feedlot country was limited to the distribution of new showlists. The offering of ready cattle looks generally larger, especially in Kansas. Only Nebraska seems to be showing fewer cattle. Suggestions of initial asking prices were completely off the table. According to the closing report, the national hog base is $0.57 higher compared with the Prior Day settlement ($55.00-64.75, weighted average $62.31). Corn futures finished 2-3 cents higher, supported by decent export inspections and a weaker dollar. U.S. stocks closed higher with consumer discretionary and health care stocks among the top gainers. The Dow closed 106 points higher and the Nasdaq advanced by 21.