DTN Closing Livestock Comment 09/14 16:21
14 Sep 2017
DTN Closing Livestock Comment 09/14 16:21 Cattle Complex Suffers Ugly Reversal When early buying interest ran out of gas near mid-morning, live and feeder contracts reversed to close significantly below the highs of the day. Lean hog issues settled on a mixed basis with deferred contracts generally gaining on October and December. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Light-to-moderate packer inquiry seemed to develop through midmorning (especially in parts of the North), but it never managed to spark much selling interest. Indeed, what little sex appeal bids sported in the early rounds pretty much vanished once the air came out of an early board rally. The national hog base is $0.84 lower ($49-$55, weighted average $53.71). Corn futures finished generally 2-3 cents higher, supported in part by aggressive buying interest in the bean market. Equities closed mixed with the Dow closing 45 points higher (at yet another record high) and the Nasdaq faltering by 31.