DTN Closing Livestock Comment 08/28 16:56
28 Aug 2017
DTN Closing Livestock Comment 08/28 16:56 Cattle Futures Blast Open the Week With Triple-Digit Gains With the lone exception of soon-to-expire spot August live, cattle futures closed sharply higher thanks to aggressive short covering and smaller than expected July placement activity. Conversely, lean hog futures continued to slump lower linked to fundamental worries. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Feedlot country hosted a normally quiet Monday with the distribution of new showlists about the only item on the agenda. The late month offering appears to be mixed, larger in Kansas, smaller in Texas and Colorado, and about steady in Nebraska. Overall, the number of ready steers and heifers appears to be about stead with last week. According to the closing report, the national hog base is $1.20 lower ($63.00-67.75, weighted average $65.61). Corn futures closed 2 cents plus lower tied to a lack of buying interest and ideas of a smaller yet fully adequate harvest. The stock market closed mixed with the Dow off 5 and the Nasdaq up 17.