DTN Closing Livestock Comment 09/14 16:30
14 Sep 2016
DTN Closing Livestock Comment 09/14 16:30 Hog Bears Rip Another Round of New Contract Lows Lean hog futures continued to significantly falter Wednesday, pressured by ongoing supply fears and technical selling. The cattle complex settled on a mixed basis with live issues moving higher and feeder contracts eroded lower. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Besides a few scattered opening bid (i.e., $104 in part of the South), the cash cattle trade didn't move a muscle. Some showlists in Kansas and Texas were priced around $110. According to the closing report, the national hog base is $1.46 lower compared with the Prior Day settlement ($52.00-57.00, weighted average $55.37). The corn trade was both lackluster and technically insignificant as prices settled generally 2-3 cents higher. U.S. stocks closed mostly lower, checked by energy as oil prices fell sharply despite bullish inventories data. The Dow finished 31 points higher with the Nasdaq better by 18.