DTN Closing Livestock Comment 02/26 16:27
26 Feb 2018
DTN Closing Livestock Comment 02/26 16:27 Firm Pressure Redevelops Monday Firm pressure developed in all nearby livestock trade with lean hog futures leading the market lower. Despite support in both pork values and cash prices, strong follow-through selling swept through the complex. By Rick Kment DTN Analyst GENERAL COMMENTS Cash cattle trade activity remains undeveloped with limited interest shown at this point. This is not unexpected with overall bids and asking prices not likely to actively develop until midweek. Trade is likely to be pushed off to the second half of the week, as traders focus on the split between futures and beef values seen over the last few days. According to the closing report, the national hog base is $0.28 higher compared with the prior day settlement ($56-$63.50) weighted average $62.89. The corn futures are higher in light activity. March futures were 2 cents higher Monday. The Dow Jones Index is 399 points higher with the Nasdaq up 84 points.