DTN Closing Livestock Comment 08/05 15:48
5 Aug 2016
DTN Closing Livestock Comment 08/05 15:48 Cattle Futures Extend Late-Summer Rally Live and feeder cattle contracts closed sharply higher, supported by short-covering, technical selling, and cash premiums. Lean hog futures settled on a mixed note with nearbys generally losing ground to deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Light trading was reported in parts of Nebraska and Iowa with most dressed sales marked at $187, generally steady with Thursday's higher trade. Trade volume totals for the week appear to be no better than moderate. According to the closing report, the national hog base is $1.04 lower compared with the Prior Day settlement ($58.00-$64.25, weighted average $62.84). Corn futures closed up 3 1/2 cents in the September and up 3 1/4 cents in the December.