DTN Closing Livestock Comment 11/03 16:39
3 Nov 2016
DTN Closing Livestock Comment 11/03 16:39 Cattle Paper Sags Significantly Thanks to Long Liquidation, Profit-Taking Live and feeder futures closed under pressured with triple-digit losses common in both markets. On the other hand, lean hog contracts settled on a mixed basis with nearbys losing ground to deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Light-to-moderate trade volume surfaced in most areas of cattle feeding country as feedlot managers decided to respond to basically steady bids (i.e., $105 in the South, $162-$164 in the North). According to the closing report, the national hog base is $0.77 lower compared with the Prior Day settlement ($41.50-$44.00, weighted average $43.07). Corn futures settled a penny plus higher, supported by generally contractive export news. U.S. stocks closed lower as concerns over the presidential election lingered. The Dow closed 48 points lower with the Nasdaq off by 27.