DTN Closing Livestock Comment 10/14 15:46
14 Oct 2016
DTN Closing Livestock Comment 10/14 15:46 Late-Week Short-Covering Causes Meat Futures to Close Mixed The cattle complex settled mostly higher, supported by short-covering and late-week profit-taking. Lean hog issues finished mostly lower, pressured by pre-weekend long liquidation and profit-taking. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: From Friday to Friday livestock futures scored the following Changes: Oct LC, Off $5.97; Dec LC, Off $5.60; Oct FC, Off $7.25; Nov FC, Off $7.12, Oct LH, Up $1.93, Dec LH, Off $0.38. The cash cattle trade was not tested Friday thanks to light to moderate trade volume generated on Wednesday and Thursday. Moderate trade volume was recorded in most areas this week, but buyers and sellers were sick of business for different reasons today. According to the closing report, the national hog base is $0.17 higher compared with the Prior Day settlement ($43.00-48.00, weighted average $46.15). Corn futures closed higher, up 4 3/4 in the December and up 4 1/4 in the March and May.