DTN Closing Livestock Comment 05/03 15:55
3 May 2017
DTN Closing Livestock Comment 05/03 15:55 Cattle Futures Stage Bullish Eruption Live and feeder issues rocketed higher with June and August live locking up the 300-point limit. Lean hog contracts settled significantly higher with nearbys powering ahead of deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Cattle buyers once again turned very aggressive in feedlot country Wednesday, spending whatever it took to cover shor-term slaughter needs. ive sales in the South were marked at $145-146, $8-9 higher than last week. Dressed deals in the North were mostly done at $230, $12 to $13 higher than last week's weighted average basis Nebraska. According to the closing report, the national hog base is $2.97 higher ($52.00-63.75, weighted average $61.47). Corn futures settled several cents higher, modestly supported by forecasts for better planting conditions. The stock market closed mixed with the Dow up 8 points and the Nasdaq off 22.