DTN Closing Livestock Comment 10/11 16:25
11 Oct 2016
DTN Closing Livestock Comment 10/11 16:25 Aggressive Selling Continues to Press Nearby Live Cattle Futures Cattle futures suffered another round of significant losses, especially in the front end of the live market. Lean hog issues settled on a mixed basis with nearbys outperforming deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The cash cattle trade remained generally quiet with just a small handful of dressed sales noted in parts of the North as low as $155-$156. Both buyers and sellers seemed unnerved by the board's defensive behavior. According to the closing report, the national hog base is $0.09 higher compared with the Prior Day settlement ($43.00-$48.09, weighted average $46.32). The corn market settled 1-2 cents higher, supported by light short-covering prior to Wednesday's release of updated supply and demand tables. U.S. stocks closed sharply lower as concerns of a Democratic sweep weighed on health care and biotechnology stocks. The Dow tumbled by 200 points with the Nasdaq off 81.