DTN Closing Livestock Comment 11/30 16:32
30 Nov 2015
DTN Closing Livestock Comment 11/30 16:32 Cattle Futures Spanked Hard After Long Holiday Weekend Live and feeder futures slumped significantly lower on the close, pressured by long liquidation and disappointing packer appetites. On the other hand, lean hog contracts settled on a mixed basis with nearby issues closing lower and deferreds moving higher. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Activity in feedlot country was limited to the distribution of new showlists. The offering appears to be generally larger, especially in the South. Asking prices were poorly defined. According to the closing report, the Iowa hog base is .73 higher compared with the Prior Day settlement ($47.00-$52.75, weighted average $52.28). The corn market closed generally a nickel higher thanks to commercial buying and technical support. U.S. stocks closed lower as investors focused on retail results and readied for key data and central bank comments later in the week. The Dow closed 78 points lower with the Nasdaq off 18.