DTN Closing Livestock Comment 12/20 16:35
20 Dec 2016
DTN Closing Livestock Comment 12/20 16:35 Lean Hog Futures Slip Sharply Lower Thanks to Pre-Report Profit-Taking Triple-digit losses covered lean hog futures thanks to profit-taking and technical selling. On the other hand, cattle contracts mostly closed moderately lower in light trade volume. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: In another round of "speak-no-evil-hear-no-evil," the cash cattle trade existed only in theory. A few cattle in Texas were priced around $115, but that was about it. According to the closing report, the national hog base is $0.41 lower ($45.00-$53.50, weighted average $52.66). Corn futures settled lower for the fourth consecutive session i.e., off 2-3 cents), checked by decent South American weather and further strength in the dollar. Notching its 17th record since the national election, the Dow closed 91 points higher Tuesday. At the same time, the Nasdaq advanced by 26.