DTN Closing Livestock Comment 01/17 15:34
17 Jan 2017
DTN Closing Livestock Comment 01/17 15:34 Cattle Futures Launch Holiday-Shorted Week With Solid Gains Live and feeder contracts closed with decent price progress, supported by follow-through buying and recent cash progress. Lean hog futures settled on a mixed basis, though the first six issues finished consistently higher. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Cattle feeding country was generally quiet as buyers focused on the assessment of new showlists. The mid-month offering appears to be generally smaller than last week with only Colorado showing a few more ready steers and heifers. Some cattle were priced around $122 in the South and $192-$195 in the North. According to the closing report, the national hog base is $0.44 higher ($58.00-$63.75, weighted average $62.40). The corn market surged 7 cents plus higher with nearby contracts notching 11-week highs. Corn was supported by fears of flooding in Argentina and a softer dollar. The Dow closed 59 points lower with the Nasdaq off 35.