DTN Closing Livestock Comment 08/02 16:24
2 Aug 2017
DTN Closing Livestock Comment 08/02 16:24 Bulls Play Last Card in Extremely Choppy Cattle Game, Finally Scoring Sharp Gains Live and feeder cattle futures settled sharply lower thanks to late short-covering and signs of cash stability. Lean hog contracts also closed with impressive gains, supported by short-covering and bull-spreading. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Light-to-moderate trade surfaced in parts of cattle feeding country. Live sales in Nebraska were mostly marked at $118, $1 higher than last week. On the other hand, live business in the South (mostly Kansas) took place at $116-$117, steady to $1 lower. According to the closing report, the national hog base is unchanged ($73-82.50, weighted average $79.86). Corn futures closed several cents higher at the conclusion of lackluster trading. The stock market closed mixed with the Dow settling above 22,000 for the first time ever (i.e., up 52 points). The Nasdaq closed about unchanged.