DTN Closing Livestock Comment 05/02 16:04
2 May 2017
DTN Closing Livestock Comment 05/02 16:04 Feeder Futures Rebound From Monday's Stumble The cattle complex closed on a firm basis Tuesday, though most contracts settled well below session highs. Lean hog futures settled moderately higher, supported by reports of cash strength and some bull-spreading interest. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Cattle buyers and sellers stayed on the sidelines through the day. We may not see significant business interest from either side until the second half of the week. A few showlists in the South were priced in a broad range, stretching from $142 to 145. According to the closing report, the national hog base is $2.22 higher ($52.00-61.00, weighted average $58.47). Giving back roughly half of Monday's rally, corn futures closed nearly a nickel lower. The stock market closed higher with the Dow up 36 points and the Nasdaq better by 3.