DTN Closing Livestock Comment 11/24 16:46
27 Nov 2017
DTN Closing Livestock Comment 11/24 16:46 Hog Contracts Close Holiday Week With Solid Price Progress Lean hog futures settled moderately higher, supported by follow-through buying and ideas of manageable fundamentals through the end of the year. On the other hand, the cattle complex closed on a mixed basis with live issues mostly lower and feeder contracts moderately higher. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Feedlot country was dead quiet following Thanksgiving with both buyers and sellers apparently content with the weekly trade volume generated through Wednesday. According to the closing report, the national hog base is $0.45 higher ($50-$58.25, weighted average $57.10). The corn market settled 2-3 cent lower, pressured by discouraging export sales and a general lack of buying interest. Equities closed generally higher with the Dow advancing by 31 points and the Nasdaq gaining 21.