DTN Closing Livestock Comment 11/18 16:26
18 Nov 2016
DTN Closing Livestock Comment 11/18 16:26 Livestock Futures Close Narrowly Mixed in Slow Trade Volume The cattle complex settled narrowly mixed as traders cautiously positioned ahead of the Nov. 1 Cattle on Feed report. Lean hog futures also closed on both sides of unchanged with nearbys faring better than deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The cash cattle trade was not tested in the late rounds. Indeed most of the week's business was completed as early as Wednesday when feedlot managers aggressively responded to higher packer bids. The national hog base closed $0.12 lower compared with the Prior Day settlement ($38.00-$41.25, weighted average $40.54). From Friday to Friday, livestock futures scored the following changes: Dec LC, Up $2.72; Feb LC, Up $2.55; Jan FC, Up $4.60; Mar FC, Up $4.07; Dec LH, Up $0.68; Feb LH, Off $0.18. Corn futures settled generally 3-4 cents higher, apparently supported by ideas of decent export demand, even in the face of a strengthening dollar. The Dow closed 35 points lower with the Nasdaq off 12.