DTN Closing Livestock Comment 08/31 16:55
31 Aug 2016
DTN Closing Livestock Comment 08/31 16:55 Cattle Bears Reclaim Some of Tuesday's Reversal For the most part, cattle futures settled significantly lower with feeder issues losing more price territory than their live counterparts. On the other hand, lean hog contracts closed on a mixed basis tied to light bull-spreading and profit-taking. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The cash cattle trade was very slow at midweek following Tuesday's fairly active round of country biz. A handful of sales were reported in the North at $111 live and $174 to $175 dressed, roughly steady with Tuesday's market. According to the closing report, the national hog base is .63 lower compared with the Prior Day settlement ($53.00-61.00, weighted average $59.20). Corn futures closed with mixed results, though spot September did lose several cents. Equities closed lower on the last trading day of the month with investors digesting soft oil prices and looking ahead to Friday's jobs report. The Dow finished 53 points lower with the Nasdaq down by 9.