DTN Closing Livestock Comment 01/05 15:49
5 Jan 2017
DTN Closing Livestock Comment 01/05 15:49 Meat Futures Settle Session With Narrowly Mixed Prices Lean hog contracts finished mostly higher with only a few issues in the far deferreds scoring modest losses. The cattle complex closed on a mixed note tied to a slow combination of profit-taking and short-covering. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The feedlot trade was extremely slow Thursday with just a few scattered sales reported in parts of the North (i.e., $188 dressed, steady with Wednesday, steady to $1 lower than last week basis Nebraska). According to the closing report, the national hog base is $0.96 higher ($51.00-$57.50, weighted average $54.80). The corn market ended 1-2 cents higher, boosted by record ethanol production and a softer dollar. Equities closed unevenly, up 42 points on the Dow and 10 higher (a record-high close) on the Nasdaq.