DTN Closing Livestock Comment 12/20 16:50
20 Dec 2017
DTN Closing Livestock Comment 12/20 16:50 Lean Hog Futures Move Toward Quarterly Report With Triple-Digit Gains Hog contracts soared sharply higher Wednesday, supported by aggressive short-covering and apparent fearlessness relative to the pending Dec. 1 H&P report. On the other hand, the cattle complex imploded with triple-digit losses thanks to long liquidation and fears tied to the pending on-feed report. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Moderate cattle trading surfaced in most areas of feedlot country with $120 live paid in the South ($0.50 higher than last week's weighted averages) and $190-$191 dressed the North ($1-$2 higher). According to the closing report, the national hog base is $0.27 higher ($49-$57.20, weighted average $55.90). Corn futures settled generally 2 cents higher, modestly girded by light short-covering tied to noncommercials. The stock market closed lower with the Dow off 28 points and the Nasdaq down 2.