DTN Closing Livestock Comment 12/29 16:00
29 Dec 2017
DTN Closing Livestock Comment 12/29 16:00 Meat Futures Bid 2017 Adieu With Mixed Prices The cattle complex closed mixed in the live market and moderately higher in the feeder trade. At the same time, lean hog contracts settled narrowly mixed in very slow volume. By John Harrington DTN Livestock Analyst GENERAL COMMENTS As far as we can tell, the cash cattle trade remains dead quiet as we move toward the end of the day Friday. Some live bids have improved up to 122 in both the North and South, but still remain $2-$3 below asking prices. While we assume light-to-moderate trading will develop before nightfall, we sure can't prove it yet. The national hog base closed up $0.34 compared with the prior day settlement ($54-$58.73, weighted average $58.27). From Friday to Friday, livestock futures scored the following changes: Dec LC up $3.18; Feb LC up $2.98; Jan FC up $4.45; Mar FC up $4.12; Feb LH up $1.80; Apr LH up $0.88. Corn futures closed between 1 and 2 cents lower in typically lackluster business. The stock market closed lower with the Dow off 118 and the Nasdaq down by 46.