DTN Closing Livestock Comment 07/19 16:08
19 Jul 2017
DTN Closing Livestock Comment 07/19 16:08 Beef Futures Surge Back to Upper End of Trading Range The cattle complex staged an aggressive recovery at midweek, closing with triple-digit gains thanks to short-covering and technical buying. Lean hog issues also settled higher, though significant price progress was limited to nearby issues. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Light to moderate cash cattle trading surfaced in parts of the North with dressed prices ranging from $188 to $190 (mostly $188, $2 lower than last week's weighted average basis Nebraska). According to the closing report, the national hog base is .77 lower ($80.00-85.75, weighted average $84.79). At the conclusion of another very choppy session, corn futures closed a nickel-plus higher, supported by hot temps and some pollination worries. The stock market closed higher with the Dow up 66 points and the Nasdaq better by 40.