DTN Closing Livestock Comment 12/22 16:38
22 Dec 2017
DTN Closing Livestock Comment 12/22 16:38 Hog Futures Welcome Fresh Expansion News With Plenty of Christmas Cheer Lean hog contracts closed significantly higher following USDA confirmation that the pork factory continues to expand. Conversely, the cattle complex settled significantly lower for the most part, pressured by bearish placement news. By John Harrington DTN Livestock Analyst GENERAL COMMENTS The cash cattle market was never in play with buyers and sellers focusing more on shopping lists and eggnog than showlists and slaughter schedules. According to the closing report, the national hog base is $0.65 higher ($50-$57.20, weighted average $56.26). The corn market settled fractionally higher, recovering a bit from new contract lows made earlier in the week. The stock market closed lower with the Dow off 28 points and the Nasdaq off 5.