DTN Closing Livestock Comment 11/09 16:03
9 Nov 2017
DTN Closing Livestock Comment 11/09 16:03 Cattle Futures Close More Higher Than Lower The cattle complex closed mostly lower with only nearby December and February live settling in the red. Lean hog issues finished on a mixed basis with spot December losing ground to most of the deferred field. By John Harrington DTN Livestock Analyst GENERAL COMMENTS The fed cattle market was generally quiet with scattered deals reported in parts of Nebraska ($192) and Texas ($122). According to the closing report, the national hog base is $0.58 lower ($55.00-$62.25, weighted average $59.90). The World Board raised its estimate of 2017-2018 corn ending stocks to 2.487 billion bushels, 127 million bushels more than the average private guess. The corn market took the bearish news hard, closing 6 cents-plus lower. Troubled by reports that the Senate might not pass a corporate tax cut until 2019, the Dow closed 101 points lower with the Nasdaq off 39.