DTN Closing Livestock Comment 08/17 16:58
17 Aug 2017
DTN Closing Livestock Comment 08/17 16:58 Triple-Digit Losses Flood Livestock Futures Cattle futures continued to collapse on Thursday with live and feeder contracts hammered by long liquidation and technical selling. Lean hog issues also crashed sharply lower thanks to increasingly bearish fundamentals. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Light-to-moderate cattle trading surfaced in Kansas and Texas at $110 on a live basis, $5 lower than last week. Light biz was evident in the North with dressed deals ranging from $173-$175 (mostly $175), $8-$10 lower than last week's weighted average basis Nebraska. According to the closing report, the national hog base is $0.93 lower ($70-$77, weighted average $75.46). December corn slipped another 2 cents lower in light volume, posting its lowest settle since July 2016. The stock market closed 274 points with the Nasdaq down by 123.