DTN Closing Livestock Comment 12/08 15:41
8 Dec 2016
DTN Closing Livestock Comment 12/08 15:41 Meat Futures Close With Mixed Settlements Cattle futures closed moderately lower, checked by long liquidation and late-year demand worries. Lean hog issues finished respectable higher, but well off early session highs. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Moderate trade volume surfaced Thursday in the northern tier of cattle feeding country. Most dressed deals were marked at $170, $5 lower than last week's weighted average basis Nebraska. The South remained dead quiet with both bids and asking prices poorly defined. According to the closing report, the national hog base is $1.83 higher ($45.00-54.50, weighted average $53.45). The corn trade closed mostly 4 cents lower, pressured by spillover bearishness from the bean market and a stronger dollar. U.S. equities closed with another round of new highs. The Dow finished 56 points higher with the Nasdaq better by 25.