DTN Closing Livestock Comment 11/02 16:54
2 Nov 2017
DTN Closing Livestock Comment 11/02 16:54 Cattle Futures Break Hard Thanks to Long Liquidation, Profit-Taking For the most part, the cattle complex closed sharply lower, though the most consistent selling was evident in the feeder market. Lean hogs settled with mixed results as nearby issues lost ground to deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Light-to-moderate trade volume surfaced in parts of the Northern tier of cattle feeding country with most dressed sales marked at $192, nearly $10 higher than last week's weighted average basis Nebraska. The South remained untested with feedlot managers rejecting bids as high as $120 live. According to the closing report, the national hog base is $0.69 lower ($57.50-$63.75, weighted average $63.17). The corn market settled generally 2 cents higher, supported by light commercial buying and pockets of harvest delay. The stock market closed mostly higher with the Dow market another new record (i.e., 23,516, up 81 points). The Nasdaq finished 1 point lower.