DTN Closing Livestock Comment 08/16 17:08
16 Aug 2017
DTN Closing Livestock Comment 08/16 17:08 Cattle Futures Resume Aggressive Price Slide Live and feeder futures tripped sharply lower with the latter essentially surrendering the big rally posted on Tuesday. Lean hog contracts also reversed from Tuesday's substantial advance with most of the selling energy focused on October and December. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Cash cattle trading Wednesday was limited to several thousand steers and heifers in parts of the North. Most dressed deals ranged from $175-$177, roughly $7-$9 lower than last week's weighted average basis Nebraska. A few live sales in the area were reported at $110-$111, $4-$5 lower. According to the closing report, the national hog base is $0.48 lower ($71-$78, weighted average $76.58). The corn market settled several cents lower, pressured by generally positive growing conditions. The stock market closed higher with the Dow up 25 points and the Nasdaq positive by 12.