DTN Closing Livestock Comment 08/14 16:38
14 Aug 2017
DTN Closing Livestock Comment 08/14 16:38 Live Cattle Futures Swamped by Triple-Digit Losses Cattle futures closed mixed in the live market and mostly higher in the feeder trade. Lean hog contracts also launched the new week with uneven price action as spot August expired. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Feedlot country was typically quiet as packers busied themselves with the collection of new showlists. Ready numbers appear to be generally smaller than last week with only Nebraska yards offering more ready steers and heifers. Initial bids and asking prices were not evident. According to the closing report, the national hog base is $0.27 lower ($72-$79.50, weighted average $77.43). Thanks to late-session short-covering, corn traders were able to ignore the bearish implications of a fairly wet seven-day forecast and close prices 1-2 cents higher. The stock market closed with decent strength, with the Dow gaining 135 points and the Nasdaq advancing by 83.