DTN Closing Livestock Comment 11/17 16:36
17 Nov 2016
DTN Closing Livestock Comment 11/17 16:36 Cattle Futures Follow Midweek Surge With Quiet Round of Mixed Price Action The cattle complex settled moderately higher in the live market and narrowly mixed in the feeder trade. Lean hog contracts closed moderately lower, trimmed by profit-taking on the ongoing large supply reality. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Not surprisingly, Wednesday's price explosion in the cash cattle market proved to be a tough act to follow. Feedlot country was extremely quiet with just a few scattered bids in the South renewed at $109. Unsold steers and heifers still remaining on showlists were priced around $110 in the South and $170 to $172-plus in the North. According to the closing report, the national hog base is $0.14 higher compared with the Prior Day settlement ($38.00-$41.01, weighted average $40.53). The corn trade finished close to 3 cents higher, generally supported by short-covering in light volume. The Dow closed 35 points higher with the Nasdaq better by 39.