DTN Closing Livestock Comment 04/05 17:01
5 Apr 2018
DTN Closing Livestock Comment 04/05 17:01 Cattle Futures Advance by Triple Digits for Second Consecutive Session The cattle complex closed sharply higher, lifted by aggressive short-covering and the correction of oversold charts. Lean hog issues settled on a mixed basis with summer contracts gaining on spot April and the far deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Cattle-feeding country was untested through the day as producers cautiously raised asking prices in light of the board's recovery. According to the closing report, the national hog base is $0.24 lower ($42-46.25, weighted average $45.06). Closing generally 8 cents higher, corn quickly reclaimed Wednesday's trade-war crash. Panic selling may have been partially taken off the board as more traders acknowledged that China doesn't buy much U.S. corn anyway. The stock market extended its rebound with the Dow closing 240 points higher and the Nasdaq better by 34.