DTN Closing Livestock Comment 08/16 16:23
16 Aug 2016
DTN Closing Livestock Comment 08/16 16:23 Meat Futures Slump Lower on Close Cattle futures closed substantially lower with particular selling interest evident in the feeder market. Lean hog issues reversed Monday's rally with Oct through Feb tripping lower by triple digits. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: As expected, the cash cattle trade remained extremely quiet with just a few bids noted at $118 in the South and $185 in the North. Some showlists were priced around $120-$122 in the South and $190-$192 in the North. According to the closing report, the national hog base is $0.27 higher compared with the Prior Day settlement ($55.00-$65.00, weighted average $62.94). Corn futures finished narrowly mixed with neither side showing much appetite. Stocks closed lower as investors awaited the release of the minutes from the Federal Reserve's July meeting. The Dow closed 84 points lower with the Nasdaq off 34.