DTN Closing Livestock Comment 01/26 16:17
26 Jan 2017
DTN Closing Livestock Comment 01/26 16:17 Meat Futures Swamped With Triple-Digit Losses Cattle futures closed sharply lower, hammered by long liquidation and technical selling. Lean hog contracts also stumbled badly on the close, essentially surrendering Wednesday's big surge. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Light to moderate trade volume surfaced in several areas of cattle-feeding country. Live sales in the South were marked at $122, steady with last Friday. Moderate dressed business was reported in parts of Nebraska and Iowa at $193-$194 (mostly $194), $1-$2 lower than last week. According to the closing report, the national hog base is $0.09 lower ($59.00-$65.50, weighted average $63.50). The corn market slipped 2-3 cents lower Thursday, pressured by favorable South American weather and a general lack of buying interest. The stock market closed mixed with the Dow advancing by 32 points and the Nasdaq down by 1.