DTN Closing Livestock Comment 12/29 16:50
29 Dec 2016
DTN Closing Livestock Comment 12/29 16:50 Cattle Futures Surge to Six-Month High Cattle futures surged to a six-month high Thursday for the front-month contract, thanks to strong demand for livestock and beef. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The cash cattle trade in the North on Thursday exploded sharply higher with most dressed deals marked at $190, as much as $10 higher than last week's weighted average basis Nebraska. On the other hand, business in the South remained at a standstill. Late bids in Kansas and Texas were around $118 ($2-$3 higher than last week sales) but roughly $2 under most asking prices. According to the closing report, the national hog base is $0.08 lower ($45.00-$53.00, weighted average $51.81). Corn futures finished a penny plus higher at the conclusion of a featureless round with light trade. The stock market closed modestly lower with the Dow off 13 points and the Nasdaq down by 6.