DTN Closing Livestock Comment 11/04 15:52
4 Nov 2016
DTN Closing Livestock Comment 11/04 15:52 Cattle Futures Close Week on the Defensive Live and feeder cattle futures closed technically weak on Friday, pressured by long liquidation and chart-related selling. On the other hand, lean hog issues settled on a mixed basis with nearby contracts losing ground to deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: From Friday to Friday livestock futures scored the following Changes: Dec LC, Off $1.63; Feb LC, Off $0.62; Nov FC, Up $4.07; Jan FC, Up $1.85, Dec LH, Off $0.65, Feb LH, Off $1.03. The cash cattle trade was not tested in the late rounds besides a few scattered sales in the South at $104 ($1 lower than last week). Bids and asking prices were poorly defined throughout the day. According to the closing report, the national hog base is $0.49 lower compared with the Prior Day settlement ($41.00-$44.00, weighted average $42.68). Corn futures closed slightly higher, up 3/4 in the December and up 1/2 in the March.