DTN Closing Livestock Comment 01/03 16:00
3 Jan 2019
DTN Closing Livestock Comment 01/03 16:00 Feeder Futures Close Session With Sharp Losses The cattle complex settled lower with live issues moderately lower and feeder counterparts off by triple digits. Lean hog contracts finished with mixed price results as nearbys gained on deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Light-to-moderate cattle trading developed in parts of Nebraska, Kansas and Texas Thursday afternoon with live deals marked at $125, fully steady with last week. Dressed business is not well tested with just a few $194 bids noted in the face of $200 asking prices. The national hog carcass base closed $0.85 higher ($43-$50, weighted average, $47.40). March corn broke out of its stubborn trading range Thursday, closing 4 cents higher at $3.79, Firm wheat action and ideas of stronger demand seemed to be the biggest helpers. Note the new S&D tables are due at the end of next week, but the government shutout could make this impossible. Stock traders continued to stew over the possibility of an economic slowdown. The Dow tanked by 660 points and the Nasdaq gave up 202.