DTN Closing Livestock Comment 01/31 16:10
31 Jan 2017
DTN Closing Livestock Comment 01/31 16:10 Lean Hog Futures Stage Significant Rally Nearby hog contracts advanced by triple digits, supported by improving fundamentals and technical buying. The cattle complex settled solidly lower with feeders losing ground to their live counterparts. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The cash cattle trade remained untested Tuesday with both buyers and sellers too dismayed by slumping futures to say much. Some showlists were prices around $120-$122 on a live basis and $192-$194 dressed. Significant trade volume could be delayed until Thursday or Friday. According to the closing report, the national hog base is $1.63 higher ($60.00-$67.50, weighted average $65.58). Corn futures settled about 2 cents higher with no particular feature evident. The stock market closed mostly lower with the Dow off 107 points and the Nasdaq up 1.