DTN Closing Livestock Comment 11/23 15:56
23 Nov 2016
DTN Closing Livestock Comment 11/23 15:56 Cattle Futures Exit for Turkey on Bullish Note The cattle complex closed significantly higher, supported late by pre-holiday short-covering and reports of greater packer spending in the country. Lean hog futures settled moderately higher in light trade volume. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Determined to complete procurement duties prior to Thanksgiving, cattle buyers wrote bigger checks in all feeding areas and quickly loaded the car for Grandma's house. On moderate volume, live sales in the South ranged from $110-$112, $1-$3 higher than last week. The North sold decent numbers from $170-$174, steady to $4 higher. According to the closing report, the national hog base is $0.32 higher ($39.00-$42.00, weighted average $41.26). Corn futures settled fractional mixed at the conclusion of a lackluster trading affair. U.S. stocks closed mixed after the Dow set another all-time high. The Dow closed 59 points higher with the Nasdaq off 5.