DTN Closing Livestock Comment 08/02 16:11
2 Aug 2016
DTN Closing Livestock Comment 08/02 16:11 Livestock Futures Finish Choppy Session With Mixed Results The cattle complex closed mostly higher in the live market and mixed in the feeder trade. Lean hog futures also settled on an uneven basis with deferred generally outperforming nearbys. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: As much as possible, cash cattle traders stayed in the shade, wasting little summer energy on questions of live/dressed value. A few bids were noted in parts of the North at $186. Some showlists in the South were priced around $120. Yet, for the most part, neither side demonstrated significant interest in doing business. According to the closing report, the national hog base is .04 lower compared with the Prior Day settlement ($62.00-67.50, weighted average $65.00). Though pressured through most of the session, late short-covering worked to produce no worse than mixed settlements in the corn trade (i.e., up 3 1/2 to off 1 1/2 cents). The stock market closed lower as U.S. oil settled below $40 for the first time since April. The Dow closed 90 points in the red with the Nasdaq off 46.