DTN Closing Livestock Comment 08/19 16:17

DTN Closing Livestock Comment 08/19 16:17 Cattle Futures Conclude Defensive Week With Mixed Prices The cattle complex settled mixed in the live trade and moderately higher in the feeder market as traders positioned ahead of on-feed news. Lean hog issues finished the week with a short-covering rally with nearbys leading deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The cash cattle trade was very quiet Friday thanks to active business on Thursday. Trade volume totals for the week look moderate, possibly suggesting that some cattle will be carried over into Monday. The national hog base closed $0.04 lower compared with the prior day settlement ($55.00-$64.00, weighted average $63.50). From Friday to Friday, livestock futures scored the following changes: Aug LC, off $2.77; Oct LC, off $4.27; Aug FC, off $3.00; Sep FC, off $3.70, Oct LH, up $1.92, Dec LH, up $2.50. Corn futures closed 1-2 cents higher, supported by short-covering and light commercial buying. The stock market closed lower as investors reacted to hawkish rhetoric from Fed Reserve officials. The Dow closed 45 points lower with the Nasdaq off 1.