DTN Closing Livestock Comment 05/09 16:41
9 May 2017
DTN Closing Livestock Comment 05/09 16:41 Whipsawing Cattle Futures Reverse Again, Sharply Lower Live and feeder contracts opened higher but closed aggressively lower, hammered late by long liquidation and nervousness regarding seasonal top. On a much calmer stage, lean hog futures closed narrowly mixed in light trade volume. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Scattered dressed sales were reported in parts of the North at mostly $225, $5 lower than last week's weight average. However, for the most part, the cash cattle trade remained untested. According to the closing report, the national hog base is $1.96 higher ($61.00-$69.00, weighted average $66.98). The corn market closed modestly higher, supported by short-covering and positioning before the release of new s&d tables on Wednesday. The stock market closed mixed with the Dow off 36 points and the Nasdaq up by 17.