DTN Closing Livestock Comment 10/06 16:18
6 Oct 2016
DTN Closing Livestock Comment 10/06 16:18 Nearby Hog Futures Jump Higher as Bear-Spreaders Take Profits Lean hog contracts closed mostly higher with nearbys reclaiming some price territory lost earlier in the week to deferreds. The cattle complex settled mixed in the live trade and mostly lower in the feeder market. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Moderate to active cattle trading surfaced Thursday in most areas of feedlot country. Most dressed business in the North was marked around $159-$160, $2-$3 lower than last week. On the other hand, live deals in the South were mostly tagged at $102, $1-$2 lower than the week before. According to the closing report, the national hog base is $0.19 lower compared with the Prior Day settlement ($43.00-$47.50, weighted average $46.32). The corn market fell generally 7 cents lower, checked by the unfolding harvest, plunging wheat prices, and a stronger dollar. U.S. stocks closed near unchanged as investors looked ahead to a key employment report. The Dow finished 12 points lower with the Nasdaq off 9.