DTN Closing Livestock Comment 08/01 16:20
1 Aug 2017
DTN Closing Livestock Comment 08/01 16:20 Late Buying Interest Sponsors Sharply Higher Cattle Futures The cattle complex settled significantly higher, especially led by aggressive buying in the feeder trade. On the other hand, lean hog issues closed substantially lower thanks to long liquidation and discouraging cash news. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Aside from a few starter bids in parts of the North, feedlot country remains quiet through the day with few sellers even bothering to voice what they might take for ready cattle. We're assuming that asking prices will start out around $120 in the South and $190 in the North. According to the closing report, the national hog base is $0.08 higher ($74-$83, weighted average $79.87). Corn futures ended 8 cents plus lower, weighted by spillover selling from the bean trade and a generally wet seven-day forecast. The stock market closed higher with the Dow up 72 points and the Nasdaq better by 14.