DTN Closing Livestock Comment 07/31 16:07
31 Jul 2017
DTN Closing Livestock Comment 07/31 16:07 Lean Hogs Close Lower as Country Trade Continues to Lose Steam Led by spot August, lean hog futures settled with a weak undertone thanks to lower cash sales and bearish expectations. The cattle complex closed moderately lower in the live trade and mixed in the feeder market. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Feedlot country saw a typical round of "show and tell" with packers pretty much collecting showlists and going home. The new offering is mixed with greater ready numbers in Colorado, fewer in Nebraska and Kansas, and about the same in Texas. According to the closing report, the national hog base is $1.64 lower ($75.00-81.50, weighted average $79.40). Corn futures closed generally 3 cents lower, checked by forecasts of relatively mild growing weather. The stock market closed mixed with the Dow posting a record high close at 21,891, up 60 points, and the Nasdaq finishing off 26.