DTN Closing Livestock Comment 08/23 16:01
23 Aug 2018
DTN Closing Livestock Comment 08/23 16:01 2018 Lean Hog Futures Lose Significant Ground to 2019 Counterparts Lean hog futures settled widely mixed with nearby issues crashing in the face of deferred stability. Uneven settlements in the cattle complex were much more boring with feeders narrowly mixed and live contracts moderately lower. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Light-to-moderate trade volume developed in Southern feedlot country with most live sales ($109) $1-$1.50 lower than last week's weighted averages. According to the closing report, the national hog base is $1.01 lower compared with the Prior Day settlement ($34-$38.50, weighted average $37.24). Corn futures finished a nickel-plus lower, pressured by generally decent late-summer weather conditions and a lack of buying incentive in the face of large harvest prospects. The stock market closed lower, off 76 points lower basis the Dow and off 10 basis the Nasdaq.