DTN Closing Livestock Comment 01/05 16:17
5 Jan 2018
DTN Closing Livestock Comment 01/05 16:17 Cattle Futures Close Opening Week of 2018 With Bearish Crash Live and feeder cattle futures closed sharply lower on Friday, pressured by long liquidation and technical selling. On the other hand, lean hog contracts settled narrowly mixed in light trade volume. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Moderate trade volume developed Friday in most areas of cattle-feeding country. Most live sales in the South were marked at $122.00, $1 lower than last week's weighted average basis Kansas. Dressed business in the North ranged from $193.00 to $195.00, steady to $2 lower than last week's weighted average basis Nebraska. The national hog base closed up $1.35 compared with the prior day settlement ($56.00-$66.00, weighted average $64.01). From Friday to Friday, livestock futures scored the following changes: Feb LC off $2.30; Apr LC off $1.57; Jan FC up $0.62; Mar FC off $0.70; Feb LH off $0.35; Apr LH up $0.42. Corn futures closed virtually unchanged with neither buyers nor sellers inspired to move prices one way or the other. The stock market closed higher with the Dow up 138 and the NASDAQ better by 58.