DTN Closing Livestock Comment 04/22 15:54
22 Apr 2016
DTN Closing Livestock Comment 04/22 15:54 Triple-Digit Losses Cover Cattle Futures Live and feeder cattle contracts closed sharply lower, pressured by aggressive long liquidation and technical selling. Lean hog futures settled moderately lower for the most part, thanks to late-week profit-taking. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: From Friday to Friday livestock futures scored the following Changes: Apr LC, Off $6.75; Jun LC, Off $7.52; May FC, Off $8.10; Aug FC, Off $9.52, Jun LH, Up $1.20 Jul LH, Up $1.37. Feedlot managers were forced to accept sharply lower packer bids just before the weekend break. Live sales in the South were reported at no better than $127, $7 lower than last week. On the other hand, dressed sales in the North averaged close to $200, $14 below last week's weighted averages. Trade volume totals appeared to be light to moderate with some feeding companies choosing to carry over cattle into next week. According to the closing report, the national hog base is $0.32 higher compared with the Prior Day settlement ($58.00-$67.25, weighted average $65.64). Corn futures closed lower, down 14 1/4 cents in the July and down 12 1/2 cents in the December.