DTN Closing Livestock Comment 11/28 15:41
28 Nov 2017
DTN Closing Livestock Comment 11/28 15:41 Live Cattle Futures Stabilize in Late-Day Trade Despite posting triple-digit losses through most of the session, the focus on the cattle market turned to narrow trade movement at closing bell. This helped to draw buyers back into the complex late Tuesday. By Rick Kment DTN Analyst GENERAL COMMENTS Cash cattle trade interest remains generally undeveloped with bids and asking prices still hard to pin down through cattle country. The overall lack of interest by packers may push active trade off until late in the week. There is a report that some cattle in the South are priced at $121 per cwt. Both asking prices and bids are expected to become more evident through the day Wednesday. According to the closing report, the national hog base is $1.30 higher compared with the Prior Day settlement ($50-$60) weighted average $57.92. The corn futures moved lower in light activity. December futures were 2 1/2 cents lower Tuesday. The Dow Jones Index is 255 points higher with the Nasdaq up 33 points.