DTN Closing Livestock Comment 08/11 16:27
11 Aug 2016
DTN Closing Livestock Comment 08/11 16:27 Lean Issues Rally Early But Reverse Sharply Lower Late For the most part, lean hog futures closed sharply lower, reversing hard once buying energy vanished near midday. The cattle complex settle substantially lower with feeder issues losing ground to their live counterparts. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Activity in feedlot country was limited to scattered dressed sales in parts of the North at $187 (e.g., last week's weight average was $187.84 basis Nebraska). According to the closing report, the national hog base is $0.30 higher compared with the Prior Day settlement ($55.00-$64.75, weighted average $61.40). The corn trade settled a penny-plus lower, bracing further ahead of the Aug. 1 USDA Crop Production report due out Friday. Stocks closed higher with the three major indexes closing at new record highs. The Dow closed 117 points higher with the Nasdaq better by 23.