DTN Closing Livestock Comment 12/28 16:04

DTN Closing Livestock Comment 12/28 16:04 Cattle Complex Settles Moderately Lower, Pressured by Early Week Profit-Taking Live and feeder cattle futures eased moderately lower as the last trading week of 2015 began. Most of the selling seemed tied to profit-taking in the wake of surging pre-Christmas price action. On the other hand, hog contracts settled solidly higher, supported by follow-through buying and expectations of more positive fundamentals. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Activity in feedlot country was limited to the distribution of new showlists. Ready numbers appear to be generally greater than last week with only Texas (possibly tied to a severe blast of winter weather) showing fewer steers and heifers. According to the closing report, the Iowa hog base is $0.24 lower compared with the Prior Day settlement ($47.50-$49.00, weighted average $48.46). Corn futures closed mostly 3 cents lower, checked by favorable weather in South America and sluggish export demand. U.S. stocks closed lower in light volume, pressured somewhat by a renewed slide in oil prices. The Dow closed 23 points lower with the Nasdaq off 7.