DTN Closing Livestock Comment 04/25 16:20
25 Apr 2016
DTN Closing Livestock Comment 04/25 16:20 Most Cattle Futures Bounce Solidly Higher The cattle complex settled on significantly higher for the most part with only spot April feeders closing in the red. Lean hog contracts settled on a mixed basis with nearby issues losing ground to their deferred counterparts. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The cash cattle arena was typically slow as packers focused exclusively on the gathering of new showlists. Ready numbers appear to be generally smaller than last week, especially in Nebraska and Kansas. Initial asking prices were poorly defined. According to the closing report, the national hog base is $0.48 lower compared with the Prior Day settlement ($58.00-$67.25, weighted average $65.16). Corn futures closed 6 cents plus Monday, supported by aggressive noncommercial buying. U.S. stocks closed slightly lower with energy leading decliners and defensive sectors among the leaders. The Dow close 26 points lower with the Nasdaq off 10. FEEDER CATTLE: