DTN Closing Livestock Comment 11/15 16:11
15 Nov 2016
DTN Closing Livestock Comment 11/15 16:11 Cattle Future Gain Ground at Closing Bell Late-day support in feeder cattle redeveloped Tuesday afternoon. This sparked buyer interest back into most live cattle futures, causing all but December and February contracts to close higher in late-day trade. By Rick Kment DTN Analyst GENERAL COMMENTS: Interest in cash cattle trade remained sluggish with packer bids remaining unavailable Tuesday afternoon, while asking prices remained scattered in a moderate to wide range. Asking prices are listed at $107 to $108 live basis and $166 to $168 dressed basis. According to the closing report, the national hog base is $0.10 lower compared with the Prior Day settlement ($38.50-$42.00, weighted average $40.64). The corn trade settled 4 1/4 cents higher, supported by outside markets and commercial buyer support moving back into the complex. The Dow closed 54 points higher with the Nasdaq up 57.