DTN Closing Livestock Comment 08/09 16:14
9 Aug 2017
DTN Closing Livestock Comment 08/09 16:14 Imploding Cattle Futures Settled Near Four-Month Lows Live and feeder cattle futures collapsed sharply lower at midday with most feeder contracts settling off 450 points. On the other hand, lean hog contracts finished no worse than mixed with the front of the board closing moderately higher. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Moderate to fairly active business developed in the cash cattle market Wednesday as producers moved to accept lower packer bids. Most live business in the South was marked at $115, generally $2-$3 lower. Dressed deals in the North were at mostly $185, generally $2 lower basis Nebraska. The national hog base closed off $0.88 compared with the prior day settlement ($73.50-$81.75, weighted average $78.91). Corn futures closed generally 2 cents plus higher in a slow trade as specs and commercials positioned ahead of new supply and demand tables due out Thursday. The stock market closed lower with the Dow off 36 and the NASDAQ down by 18.