DTN Closing Livestock Comment 05/04 16:16
4 May 2017
DTN Closing Livestock Comment 05/04 16:16 Feeder Futures Crash With Huge Bearish Reversal After opening significantly higher Thursday, cattle futures eroded through the trading session and closed substantially below tops of the day. The front half of the lean hog trade settled moderately higher, supported by bull-spreading and reports of greater packer spending in the country. By John Harrington DTN Livestock Analyst GENERAL COMMENTS The cash cattle trade was dead quiet Thursday, following Wednesday's surge forward. Business seemed essentially done for the week. According to the closing report, the national hog base is $2.28 higher ($55.00-66.00, weighted average $63.79). Corn futures settled generally 8 cents lower, checked by forecasts of better planting weather ahead. Equities closed on a mixed basis with the Dow off 6 points and the Nasdaq up 2.