DTN Closing Livestock Comment 05/08 16:39
8 May 2017
DTN Closing Livestock Comment 05/08 16:39 Cattle Complex Quickly Reclaims Most of Friday's Crash With the exception of spot June live, cattle contracts recovered with triple-digit gains, supported by aggressive short-covering and the ongoing premium status of feedlot cash. Lean hog issues settled higher with June catching most of the early week buying interest. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Activity in cattle feeding country was limited to the distribution of new showlists. Ready numbers appear to be larger in the North and smaller in the South. Generally speaking, the offering appears to be about steady with last week. According to the closing report, the national hog base is .82 higher ($60.00-67.00, weighted average $65.06). Corn futures settled 4-5 cents lower, pressured by expected planting progress tied to warmer temps. The stock market closed modestly higher with the Dow up by 5 points and the Nasdaq positive by 1.