DTN Closing Livestock Comment 09/28 16:36
28 Sep 2017
DTN Closing Livestock Comment 09/28 16:36 Lean Hog Futures Pull Back Prior to H&P Release For the most part, hog futures closed significantly lower thanks to long liquidation and pre-report selling. The cattle complex settled narrowly mixed as traders waited for more signs of cash potential. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Light-to-moderate cash cattle business surfaced in Kansas and Texas with live sales marked at $108, steady with last week. On the other hand, limited activity in the North involved a few scattered dressed deals at $172, $1-$2 higher than last week's weighted average basis Nebraska. According to the closing report, the national hog base is $0.03 lower ($43-$48.50, weighted average $47.44). Corn futures drifted 1-2 cents lower on the close tied to lackluster positioning ahead of Friday's Sept. 1 Stocks Report. The stock market closed higher with the Dow up 40 points and the Nasdaq near unchanged.