DTN Closing Livestock Comment 01/17 16:43
17 Jan 2018
DTN Closing Livestock Comment 01/17 16:43 Cattle Futures Slam Higher With Triple-Digit Gains Live and feeder contracts soared sharply higher, supported by aggressive short-covering, technical-buying and cash optimism. Lean hog issues finished mostly lower with nearbys losing ground to deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Feedlot country saw a few more bids Wednesday (e.g., $118 live; $188-$190 dressed), but nothing exciting enough to draw the least bit of selling interest. According to the closing report, the national hog base is $0.07 lower ($62-$71.50, weighted average $69.64). Nearby corn futures jumped 4 cents higher, the biggest one-day pop since mid-November. Trade sources credited commercial buying and a general lack of selling interest. The stock market roared back to life following Tuesday's set-back with the Dow closing 322 points higher (over 26,000 ever) and the Nasdaq settling up 74.