DTN Closing Livestock Comment 09/03 15:52

DTN Closing Livestock Comment 09/03 15:52 Cattle Contracts Settle Higher, Led by the Feeder Trade The cattle complex settled with solid gains, though feeder issues outperformed their live counterparts. On the other hand, lean hog futures finished moderately lower, pressured by profit-taking and softening cash bids. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Light to moderate business surfaced in the Northern tier of feedlot country with dressed deals ranging from $221-$224 (mostly $222), $3-$6 lower than last week's weighted average basis Nebraska. Area live business ranged from $140-$143 (mostly $142-$143), $2-$3 lower than last week. On the other hand, the South remained untested with $4-$6 separating bids and asking prices. According to the closing report, the Iowa hog base is .95 lower compared with the Prior Day settlement ($63.00-$69.25, weighted average $70.31). Nearby corn contracts settled generally 6 cents lower, weighed by building harvest expectations. U.S. stocks closed mixed, attempting to extend a recovery as investors eyed fluctuations in oil prices and awaited the final jobs report before the Federal Reserve's key September meeting. The Dow closed up 23 points while the Nasdaq lost 16.