DTN Closing Livestock Comment 05/07 15:39
7 May 2019
DTN Closing Livestock Comment 05/07 15:39 Livestock Markets Still Weighted By Bearish Trade Mood On Tuesday, live and feeder futures recovered most of Monday's losses, but the damage of the past two weeks still remains. Volatile lean hog futures took advantage of the expanded trading limits Tuesday morning, but ultimately closed with slight recoveries in some deferred contracts. By Elaine Kub DTN Contributing Analyst GENERAL COMMENTS: A light trade has been reported in parts of the South around the noon hour at $120, about $2 to $3 lower than last week's weighted averages. Asking prices are not yet fully established in the North, although a few deals have been reported in parts of Iowa at $195, about $5 lower than last week's weighted average, and a regional player in Nebraska has paid $196 on a limited number of cattle. According to the closing report, the national hog base is unchanged ($72.00-$81.50, weighted average $79.34). Corn futures settled 2 cents higher. The stock market closed lower, off 48 points in the SP 500.