DTN Closing Livestock Comment 11/24 16:38
24 Nov 2015
DTN Closing Livestock Comment 11/24 16:38 Beef Futures Quickly Surrender Monday's Progress The cattle complex settled significantly lower, pressured by long liquidation and fundamental uncertainties. Lean hog contracts closed moderately lower, checked by profit taking and limited buying interest. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Feedlot country remained at a near standstill with both bids and asking prices poorly defined. Several scattered dressed sales in Nebraska were reported at $195, generally steady with last week. A few showlists in parts of the South were priced around $132-plus. According to the closing report, the Iowa hog base is 0.04 lower compared with the Prior Day settlement ($50.00-$52.50, weighted average $51.88). Corn futures settled generally 3 cents lower, trimmed by light volume and an absence of would-be buyers more than anything else. The stock market closed mostly higher as gains in oil prices and energy stocks helped offset an earlier decline following news of a downed Russian jet near the Syrian border. The Dow closed 19 points higher with the Nasdaq about steady.