DTN Closing Livestock Comment 02/01 16:39
1 Feb 2017
DTN Closing Livestock Comment 02/01 16:39 Hog Futures Close With Mixed Prices Lean hog contracts cooled a bit Wednesday following Tuesday's big surge, closing no better than mixed with nearby gaining on deferred. The cattle complex finished lower in the feeder trade and unevenly in the live market. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Light-to-moderate cattle trade surfaced in several area. Most dressed deals in the North were marked at $190, $3.50 lower than last week's weighted average basis Nebraska. Scattered sales in parts of the South were reported at $119, $3 lower than last week. Earlier in the day, the Fed Cattle Exchange Auction reported 1,729 sales with a weighted average of $118.82, down from last week's weighted average of $121.98. According to the closing report, the national hog base is $0.75 higher ($61.00-$68.75, weighted average $66.37). The corn market jumped as much as 8 cents higher, supported by ideas of growing feed demand tied to the expanding cattle herd. The stock market finished generally higher with the Dow up 26 points and the Nasdaq better by 27.