DTN Closing Livestock Comment 08/30 16:43
30 Aug 2017
DTN Closing Livestock Comment 08/30 16:43 Lean Hog Futures Finally Catch a Bounce Sellers of hog futures finally took a breather at midweek, allowing contracts to settle mostly 30 to 112 higher. The cattle complex settled modestly higher, supported by light short-covering and profit-taking. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Light-to-moderate cattle trading surfaced in parts of the North with most dressed deals marked at $165-$166, $3-$4 lower than last week's weighted average basis Nebraska. A few live sales were reported in Kansas at $105, about $2 lower. According to the closing report, the national hog base is $0.92 lower ($60-$65, weighted average $63.53). The corn market continues to erode thanks to generally benign growing conditions in the late rounds before harvest. Most issues settled 3-4 cents in the red. The stock market closed higher with the Dow up 27 points and the Nasdaq better by 66.