DTN Closing Livestock Comment 12/07 17:04
7 Dec 2016
DTN Closing Livestock Comment 12/07 17:04 Lean Hogs Continue Bullish Explosion Lean hog futures slammed another round of triple-digit gains Wednesday, powered by technical-buying and impressive cash spending. The cattle complex settled mixed in the live market and modestly higher in the feeder trade. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: For the most part, cattle country remained very quiet with neither bids nor asking prices well defined. The Fed Cattle Exchange on the internet traded several thousand cattle across a wide area with prices generally $2 lower than last week. According to the closing report, the national hog base is $2.06 higher ($44.00-$53.00, weighted average $51.58). Corn futures settled several cents lower in light volume as traders position ahead of new s&d updates to be released on Friday. The stock market rally continued to stock the Trump rally. The Dow closed at a record 19,549, up 297 points. At the same time, the Nasdaq improved by 60.