DTN Closing Livestock Comment 09/08 16:49
8 Sep 2017
DTN Closing Livestock Comment 09/08 16:49 Cattle Futures Cap Solid Recovery Week With Triple-Digit Gains Live and feeder contracts closed sharply higher Friday, supported by aggressive short covering and technical buying. Lean hog issues settled moderately higher thanks to primarily to late week profit taking. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Light to moderate trade volume developed late in parts of the Northern tier of cattle feeding country. Most live and dressed sales seemed near steady with last week i.e., $105/$165). We're still waiting for signs of life in the South where bids and asking prices remain separated by as much as $5-$6. According to the closing report, the national hog base is $1.37 lower ($54.00-$60.00, weighted average $58.65). The corn trade closed generally 1-2 cents higher, somewhat supported by no hints of frost in the 7-day forecast. The stock market closed mixed with the Dow up 13 points and the Nasdaq off 57.