DTN Closing Livestock Comment 08/09 16:10
9 Aug 2016
DTN Closing Livestock Comment 08/09 16:10 Cattle Complex Settles Higher With Feeders Especially Strong Beef futures continued to display a firm undertone with feeder issues landing triple-digit gains. On the other hand, lean hog futures finished with mixed results, though moderate strength was limited to far deferred contracts. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: As expected, the cash cattle trade was a near no-show. A few showlists in the South were prices around $122. Yet we did not see much in terms of even starter bids. According to the closing report, the national hog base is $0.59 lower compared with the Prior Day settlement ($56.00-63.00, weighted average $61.60). The corn trade drifted another 2-3 cents lower, pulled down the path of least resistance in a very quiet session. U.S. stocks ended slightly higher with the Nasdaq posting a fresh record close. The Dow closed 3 points higher with the Nasdaq better by 12.