DTN Closing Livestock Comment 08/22 16:38
22 Aug 2016
DTN Closing Livestock Comment 08/22 16:38 Cattle Futures Recover From Early Session Hammering to Close Mostly Higher Shaking off a wave of early bearishness, the cattle complex settled narrowly mixed in the live market and moderately higher in the feeder trade. Lean hog futures finished mixed with nearbys losing ground to deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Action in cattle feeding country was limited to the early week distribution of new showlists. Ready numbers of fed steers and heifers appear to be generally smaller, especially in the North. According to the closing report, the national hog base is $0.20 lower compared with the Prior Day settlement ($55.00-$64.00, weighted average $62.39). Corn futures settled about a penny lower in light trade volume. The Midwest Crop Tour has started and the grain market will be sensitive to field reports throughout the week. U.S. stocks closed mostly lower as investors looked ahead to a key speech from Fed Chair Yellen scheduled on Friday. The Dow closed off 23 points with the Nasdaq positive by 6.