DTN Closing Livestock Comment 07/18 16:29
18 Jul 2017
DTN Closing Livestock Comment 07/18 16:29 Cattle Futures Swamped by Long Liquidation, Triple-Digit Losses The cattle complex closed sharply lower, hammered by long liquidation and worries over midsummer fundamentals. The lean hog trade settled on a mixed basis with 2018 contracts gaining on nearbys. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Feedlot cash lacked definition Tuesday with most buyers and sellers remaining absolutely mum. A few showlists in the South were priced around $122. According to the closing report, the national hog base is $0.21 lower ($81-$86.50, weighted average $85.58). After trading as much as 14 cents higher early in the session, corn closed no better than 2-3 cents in the green. Despite lower crop ratings and forecasts of blistering temps, would-be bulls had a tough time maintaining enthusiasm. The stock market closed mixed with the Dow off 54 points and the Nasdaq up 29.