DTN Closing Livestock Comment 11/27 15:56
27 Nov 2018
DTN Closing Livestock Comment 11/27 15:56 Lean Futures Settle Mixed Thanks to Bull-Spreading and Profit-Taking Hog futures closed on a mixed basis with nearbys outperforming deferreds. On the other hand, the cattle complex finished moderately lower thanks to lackluster buying interest and cash market uncertainty. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The cash cattle trade existed only in theory Tuesday with bids and asking prices no better than guesswork. Better definition of price potential may not surface until Thursday or Friday. According to the closing report, the national hog base is $0.66 lower compared with the Prior Day settlement ($46-$51.41, weighted average $50.19). Corn futures ended fractionally mixed with slow action restricted to long-held price ranges. Equities closed 108 points higher on the Dow and about unchanged on the Nasdaq.