DTN Closing Livestock Comment 08/15 16:41
15 Aug 2017
DTN Closing Livestock Comment 08/15 16:41 Cattle Bulls Recover to Spike Sharply Higher The cattle complex suddenly roared back to life Tuesday, soaring with triple-digit gains thanks to aggressive short-covering and technical-buying. Lean hog futures also scored impressive progress with nearbys racing ahead of deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Cash market activity in feedlot country was limited to a few scattered deals in parts of the North, $l75-$177. Iowa reported some live biz at $110. While WTD volume doesn't seem enough to trend, the small early week sample certainly looks sharply lower than last week (e.g., as much as $5 lower on a live basis in the North). According to the closing report, the national hog base is $0.35 lower ($72-$78.75, weighted average $76.99). Corn futures cracked 7-8 cents lower as major growing areas continue to expect timely rains over the next week or so. The stock market closed mixed with the Dow up 5 points and the Nasdaq off 7.