DTN Closing Livestock Comment 09/22 16:37

DTN Closing Livestock Comment 09/22 16:37 Nearby Lean Hog Futures Close Ugly Week With Significant Losses Lean hog futures closed lower with nearby contracts suffering triple-digit losses. The cattle complex closed substantially higher, supported by greater packer spending in the country and technical-buying. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Moderate trade volume developed in most areas of feedlot country Friday as producers responded to higher packer bids. Most live business in the South was marked at $108, $2 higher. Dressed deals in the North were primarily marked at $170, about $3.50 higher than last week's weighted average basis Nebraska. Live business in parts of Nebraska and Iowa ranged from $108.50-$109.50, $2.50-$3.50 higher than last week's weighted average basis Nebraska. The national hog base closed off $0.15 compared with the Prior Day settlement ($43-$50.50, weighted average $48.70). From Friday to Friday, livestock futures scored the following changes: Oct LC up $3.82; Dec LC up $4.60; Sep FC up $3.18; Oct FC up $5.45; Oct LH off $5.27; Dec LH off $1.85. Corn futures closed 3 cents higher with spillover support from the bean market. The stock market closed mixed with the Dow off 9 and the NASDAQ up 4.