DTN Closing Livestock Comment 01/09 16:27
9 Jan 2017
DTN Closing Livestock Comment 01/09 16:27 Cattle Futures Spike Higher Thanks to Late-Session Surge The cattle complex closed sharply higher, supported by late short-covering and the premium status of recent feedlot sales. For the most part, lean hog contracts settled moderately higher with only spot Feb slipping some lower. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Besides gathering new showlists, cattle buyers did have much to say in the early rounds. The new offering is generally smaller with only Kansas showing more ready steers and heifers. According to the closing report, the national hog base is $0.04 lower ($53.00-$58.00, weighted average $55.23). The corn market closed several cents higher with the help of decent export inspections. The Dow closed 76 points lower with the Nasdaq notching another record high (up 10).