DTN Closing Livestock Comment 03/28 17:40
28 Mar 2018
DTN Closing Livestock Comment 03/28 17:40 Meat Futures Bounce Higher at Midweek The cattle complex closed significantly higher with particular buying interest enjoyed by the feeder market. Lean hog issues also settled sharply higher with summer contracts gaining on both the nearbys and deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Generally light-to-moderate trade volume developed in most parts of cattle feeding country. Most live sales in the South were marked at $121, roughly $4 lower than last week. Dressed deals in the North averaged close to $190, nearly $11 below last week's weighted average basis Nebraska. According to the closing report, the national hog base is $0.96 lower ($45-$50.50, weighted average $49.15). Corn futures closed fractionally lower as traders positioned ahead of stocks and planting intention numbers due out late Thursday morning. The stock market closed lower with the Dow off 9 points and the Nasdaq down 59.