DTN Closing Livestock Comment 08/12 15:57
12 Aug 2016
DTN Closing Livestock Comment 08/12 15:57 Late-Week Short-Covering Sponsors Lean Hog Rally Nearby lean hog contracts closed solidly higher, supported by short-covering and light bull-spreading. The cattle complex settled on a mixed basis with nearbys gaining on deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: From Friday to Friday livestock futures scored the following Changes: Aug LC, Off $1.35; Oct LC, Off $1.00; Aug FC, Off $0.58; Sep FC, Up $0.35, Aug LH, Off $0.30, Oct LH, Up $1.15. Light trading developed in parts of the North Friday with most dressed prices marked at $187, nearly $1 lower than last week's weighted average basis Nebraska. However, much business remains undecided at this time with showlists priced higher at $120-plus in the South and $190-plus in the North. Some Southern bids have been reported as high as $119 late this afternoon. According to the closing report, the national hog base is $1.32 higher compared with the Prior Day settlement ($55.00-$65.50, weighted average $62.77). Corn futures closed up 1 1/4 cents in the September and December contracts.