DTN Closing Livestock Comment 12/23 15:46
23 Dec 2016
DTN Closing Livestock Comment 12/23 15:46 Hog Santa Clobbered Down the Chimney by Bearish Inventory Lean hog futures settled sharply lower with late selling sparked by the bearish Dec. 1 Hogs and Pigs report. The cattle complex closed mixed, though more issues lost ground than gained. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Cattle buyers and sellers were free to gather around the yuletide punch bowl with procurement chores cheerfully completed as early as Thursday. A few last-minute deals may have been inked here and there, but for the most part, only Scrooge was left grumbling over his ledger. According to the closing report, the national hog base is $0.13 lower ($45.00-$54.00, weighted average $52.12). Closing at a three-week low, the corn market drifted another penny plus lower in thin volume and manned by shiftless elves. The Dow closed 14 points higher with the Nasdaq positive by 15.