DTN Closing Livestock Comment 08/10 16:11
10 Aug 2016
DTN Closing Livestock Comment 08/10 16:11 Lean Hog Issues Bounce Moderately Higher on Close Hog futures settled moderately higher, supported by short-covering and reactions to oversold charts. The cattle complex finished modestly lower at the conclusion of a lackluster trading session. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Besides a few more opening bids tossed on the table (i.e., $116 in the South, $186 in the North), the feedlot trade at midweek was another do-nothing carbon copy. Asking prices were suggested around $122 in the South and $192 in the North. According to the closing report, the national hog base is $0.44 lower compared with the Prior Day settlement ($55.00-$64.00, weighted average $61.16). Corn futures closed fractionally higher as specs and commercially cautiously position ahead of Friday's big production report. The stock closed lower as the recent rally eased and investors digested falling oil prices. The Dow closed 37 points lower with the Nasdaq down by 20.