DTN Closing Livestock Comment 08/31 16:31
31 Aug 2017
DTN Closing Livestock Comment 08/31 16:31 Lean Hog Futures Cautiously Extend a Long-Awaited Recovery Hog futures closed higher, supported by short-covering and pre-holiday profit-taking. The cattle complex settled mixed in the live trade and moderately lower in the feeder market. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Light-to-moderate cattle business was reported in several states with most live and dressed deals steady/weak with the midweek decline ($104-$105 live, $164-$166 dressed). According to the closing report, the national hog base is $1.09 lower ($57.50-$64.50, weighted average $62.46). The corn market closed sharply higher (i.e., 12 cents plus) as buyers suddenly responded to nine-month lows. The stock market nailed its fifth straight monthly gain by closed 59 points higher basis the Dow and 60 higher basis the Nasdaq.