DTN Closing Livestock Comment 04/21 16:48
21 Apr 2016
DTN Closing Livestock Comment 04/21 16:48 Livestock Futures Close Slow Session With Mixed Prices The cattle complex settled on a mixed basis, generally lower in the live market and higher in the feeder trade. Lean hog futures also landed an inconsistent trend with nearby issues losing ground to their deferred counterparts. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Cattle buyers placed a few more bids on the table Thursday, but virtually nothing to inspire selling interest. Indeed, bids and asking prices on a live basis were often separated by as much as $5 or more. According to the closing report, the national hog base is $1.13 higher compared with the Prior Day settlement ($57.00-$67.00, weighted average $65.32). Corn futures closed nearly a dime lower, pressured by chart resistance and the weakening cash basis. U.S. stocks closed lower with telecoms leading declines amid the latest batch of earnings. The Dow closed 113 points lower with the Nasdaq off 2.