DTN Closing Livestock Comment 11/08 17:00
8 Nov 2017
DTN Closing Livestock Comment 11/08 17:00 Cattle Complex Collapses With Triple-Digit Losses Live and feeder futures imploded Wednesday thanks to aggressive long liquidation and technical-selling. Lean hog contracts settled moderately lower, pressured by reports of lower country sales and spillover selling from the cattle complex. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Moderate-to-active business surfaced in the South with steers and heifers marked at $124, $1 lower than last week. Decent trade volume was also evident in parts of the North with most dressed deals marked at $192, roughly steady with last week's weighted average basis Nebraska. According to the closing report, the national hog base is $0.03 lower ($56.00-$61.75, weighted average $60.38). Corn futures settled fractionally higher in light trade volume. Wall Street closed mixed with the Dow off 3 points and the Nasdaq up 21.