DTN Closing Livestock Comment 07/24 15:52
24 Jul 2017
DTN Closing Livestock Comment 07/24 15:52 Live and Feeder Futures Clobbered by Bearish Supply News The cattle complex closed sharply lower Monday, pressured by the negative implications of inventory reported unveiled on Friday. Lean hog issues settled moderately lower thanks to long liquidation and signs of faltering fundamentals. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Activity in feedlot country was typically limited to the distribution of new showlists. The late month offering is generally larger with only Texas showing fewer ready steers and heifers. According to the closing report, the national hog base is $0.93 lower ($77.00-83.50, weighted average $82.39). The corn market closed several cents lower, checked by weather maps promising milder temps and chances for rain over much of the main growing area. The stock market settled on a mixed basis with the Dow off 66 points and the Nasdaq better by 23.