DTN Closing Livestock Comment 12/19 16:07
19 Dec 2017
DTN Closing Livestock Comment 12/19 16:07 Feeder Cattle Weaken Tuesday Sharp losses quickly developed in feeder cattle trade late Tuesday. This continued to put more pressure on the entire livestock market as initial buyer support seen early in the session quickly evaporated. Trade is expected to remain sluggish through the rest of the week. By Rick Kment DTN Analyst GENERAL COMMENTS Cash cattle activity remains quiet with only a few token bids developing in the North at $189 dressed basis. It is expected that active trade will not be seen until sometime Thursday or Friday. Asking prices are still hard to define, but expected to be around $123 live and $193 dressed or slightly higher. According to the closing report, the national hog base is $0.45 lower compared with the prior day settlement ($49.00-to-$57.20) weighted average $55.60. The corn futures moved higher in light activity. March futures were 1/2 cent higher Wednesday. The Dow Jones Index is 37 points lower with the Nasdaq down 30 points.