DTN Closing Livestock Comment 12/01 16:35
1 Dec 2016
DTN Closing Livestock Comment 12/01 16:35 Cattle Futures Reverse From Early Highs to Close Moderately Lower As cattle bulls move early but not late, live and feeders contracts settled the session well below the highs of the day. Lean hog futures finished on a mixed basis with the first four contracts especially losing ground to the far deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Light trade volume surfaced in parts of the Northern tier of cattle feeding country with most dressed deals marked at $175, steady with Wednesday and about $2 higher than last week's weighted average basis Nebraska. According to the closing report, the national hog base is $1.27 higher ($42.00-$48.00, weighted average $46.36). The corn market retreated by 5-6 cents, pressured by a general lack of commercial buying interest. The Dow closed 68 points higher with the Nasdaq off 72.