DTN Closing Livestock Comment 08/25 16:27

DTN Closing Livestock Comment 08/25 16:27 Cattle Futures Closed Mostly Higher Thanks To Late-Week Short-Covering Live and feeder cattle futures settled moderately higher for the most part as traders took late-week profits and positioned ahead of the Cattle on Feed report. On the other hand, lean hog contracts closed mostly lower, further pressured by bearish fundamentals. By John Harrington DTN Livestock Analyst GENERAL COMMENTS The cash cattle trade was very quiet Friday with buyers and sellers apparently content with the trade volume generated on Wednesday and Thursday. We could see a certain number of unsold cattle carried over into Monday, resulting in some increase in the size of showlists. The National hog base closed off $1.13 compared with the Prior Day settlement ($64.00-$68.00, weighted average $66.73). From Friday to Friday livestock futures scored the following changes: Aug LC off $0.42; Oct LC up $1.02; Aug FC up $0.87; Sep FC up $2.90; Oct LH off $3.05; Dec LH off $2.37. Corn futures closed 2-3 cents lower, pressured by a lack of buying interest and growing confidence and prospects for a fully adequate harvest later this fall. The stock market closed mixed with the Dow up 30 and the NASDAQ off 5.