DTN Closing Livestock Comment 08/25 16:14
25 Aug 2016
DTN Closing Livestock Comment 08/25 16:14 Hog Futures Slammed With Triple-Digit Losses Lean hog contracts closed sharply lower, pressured by long liquidation and ongoing fears of late-year supplies. The cattle complex settled mostly lower with feeders losing more ground to their live counterparts. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The cash cattle arena was quiet Thursday following significant trade volume generated at midweek. Just a few bids were noted in parts of the North as low as $179. According to the closing report, the national hog base is $0.53 lower compared with the Prior Day settlement ($55.00-$62.50, weighted average $61.68). Corn futures closed generally 4 cents lower, weighed by sharply lower action in the bean trade and the lack of significantly bullish news from the Midwest Crop Tour. U.S. equities closed lower a day ahead of a key speech from Federal Reserve Chair Yellen. The Dow closed 33 points lower with the Nasdaq off 5.