DTN Closing Livestock Comment 12/01 16:38
1 Dec 2017
DTN Closing Livestock Comment 12/01 16:38 Cattle Futures Close Week in State of Collapse Live and feeder cattle futures closed sharply lower, hammered by a combination of long-liquidation and technical selling. On the other hand, lean hog issues settled solidly higher with nearbys gaining on deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Light to moderate cattle trading was generally evident across the area with the best market test probably evident in the North. While prices were generally higher than last week, late week business softened somewhat from Thursday's best. The National hog base closed off $0.42 compared with the Prior Day settlement ($54.00-$60.50, weighted average $59.00). From Friday to Friday, livestock futures scored the following changes: Dec LC off $1.35; Feb LC off $2.60; Jan FC off $2.98; Mar FC off $3.75; Dec LH up $2.02; Feb LH up $1.32. Corn futures closed .03 cents higher, supported by La Nina talk and possible threats of dry weather for South America. The stock market closed lower with the Dow off 40 and the NASDAQ down by 26.