DTN Closing Livestock Comment 05/12 16:10
12 May 2017
DTN Closing Livestock Comment 05/12 16:10 Beef Futures Surge Higher on China News Live and feeder cattle futures closed sharply higher on Friday, supported by confirmation that China would start importing U.S. beef this summer for the first time in more than 13 years. For the most part, lean hog contracts closed moderately higher, boosted by improving fundamentals and spillover buying from the cattle complex. By John Harrington DTN Livestock Analyst GENERAL COMMENTS The cash cattle trade was very quiet Friday with buyers and sellers apparently content with the business conducted on Wednesday and Thursday. The National hog base closed up $0.17 compared with the Prior Day settlement ($66.00-$71.00, weighted average $69.73). From Friday-to-Friday livestock futures scored the following changes: Jun LC Off $3.13; Aug LC up $0.60; May FC Up $0.78; Aug FC Off $1.60; Jun LH Up $1.63; Jul LH Up $1.78. Corn futures closed one to two cents higher in light trade volume. The stock market closed mixed with the Dow off 22 points and the NASDAQ up 5.