DTN Closing Livestock Comment 05/11 17:07
11 May 2017
DTN Closing Livestock Comment 05/11 17:07 Feeder Futures Slump Further With Triple-Digit Losses The cattle complex closed lower, led by triple-digit losses in feeder futures. With the exception of spot May, lean hog issues settled moderately lower, pressured by profit taking and long liquidation. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Moderate cash business developed in the North Thursday with live deals marked at $137-$138 ($7-$8 lower basis Nebraska) and dressed sales ranging from $217-$221 ($9-13 lower basis Nebraska). According to the closing report, the national hog base is $0.22 higher ($65.00-$71.00, weighted average $69.64). Corn futures settled 4-5 cents lower, checked by poor export sales and forecasts for better planting weather. The stock market closed lower with the Dow off 23 points and the Nasdaq down by 13.