DTN Closing Livestock Comment 03/01 15:48
1 Mar 2018
DTN Closing Livestock Comment 03/01 15:48 Hog Futures Roll Further Down the Hill Lean hog contracts slipped to new lows again, pressured by follow-through selling and ongoing supply concerns. The cattle complex settled on a mixed basis thanks to a slow combination of residual selling and profit-taking. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Besides a few scattered clean-up deals in parts of the North, feedlot country was very quiet Thursday. Trade volume totals on Wednesday appear to be sufficient to generally satisfy the marketing needs of both sides. According to the closing report, the national hog base is .02 higher ($56.00-63.75, weighted average $62.13). Corn futures popped another 4-cents-plus higher, further supported by drought conditions in Argentina and the western U.S. Plains. Spooked by the Trump administration's plans to impose tariffs on steel and aluminum, the stock market closed sharply lower. The Dow finished 420 points in the red with the Nasdaq off 92.