DTN Closing Livestock Comment 04/25 16:33
25 Apr 2018
DTN Closing Livestock Comment 04/25 16:33 Cattle Futures Rebound Linked to Cash and Product Optimism Live and feeder cattle contracts settled solidly higher, generally erasing Tuesday's pullback and then some. Lean hog issues closed on a mixed basis with nearbys gaining on deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Cattle buyers and sellers pretty much kept to themselves Wednesday, perhaps intuitively knowing that they didn't share much in common regarding ideas of price this early in the game. A few packers left token calling cards with $119 bids. Some asking prices were suggested around $125 on a live basis, but firming futures may boost bullish expectations even more through the second half of the trading week. According to the closing report, the national hog base is $0.28 higher ($52-$59, weighted average $58.35). Corn futures surged 5-6 cents higher, supported by noncommercial buying and another friendly swing in wheat prices. Equities closed mixed with the Dow up 59 and the Nasdaq off 3.