DTN Closing Livestock Comment 12/15 16:20
15 Dec 2016
DTN Closing Livestock Comment 12/15 16:20 Lean Hog Futures Extend Late-Year Rally With Moderate Gains Hog contracts closed moderately higher, supported by technical buying and constructive fundamentals. The cattle complex settled with mixed prices as traders slowly positioned ahead of cash news. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The cash cattle stare-down continued Thursday with neither side choosing to step toward the middle. Some Southern buyers bid $107-$108 in the face of asking prices around $114 on better. And several Northern buyers bid $170, well below area feedlot ideas of $175 or better. According to the closing report, the national hog base is $0.47 lower ($45.50-$54.50, weighted average $52.97). Corn futures closed about a nickel lower, pressured by another round of strength in the dollar market. Shaking off the Fed decision to raise interest rates, the stock market once again extended the post-election rally Thursday. The Dow closed 59 points higher and the Nasdaq advanced by 10.