DTN Closing Livestock Comment 12/30 15:57
30 Dec 2016
DTN Closing Livestock Comment 12/30 15:57 Meat Futures Close Year Widely Mixed in Light Trade Volume For the most part, the cattle complex closed lower with triple-digit losses dominating the feeder trade. Conversely, lean hog contracts settled higher with nearby issues surging ahead of deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Light-to-moderate cash cattle trading surfaced Friday with the best market test evident in the South. Most live deals were marked at $118, nearly $3 higher than last week's weighted average basis Texas and Kansas. According to the closing report, the national hog base is $0.15 higher ($45.00-$53.00, weighted average $51.95). From Friday to Friday, livestock futures scored the following changes: Dec LC, Up $4.43; Feb LC, Off $0.25; Jan FC, Off $0.27; Mar FC, Off $1.60; Feb LH, Up $2.95; Apr LH, Up $2.20. Corn futures drifted 1-2 cents higher thanks to short-covering in very thin volume. The stock market bid adieu to 2016 by closing 57 points lower in the Dow and 48 down in the Nasdaq.