DTN Closing Livestock Comment 01/25 16:17
25 Jan 2018
DTN Closing Livestock Comment 01/25 16:17 Cattle Futures Suffer Ugly Reversal After trading higher for most of the session, cattle futures collapsed late in the day to settle with triple-digit losses. Lean hog contracts also closed under pressure, especially in April through August. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Feedlot country remained dead quiet with sellers easily ignoring packer bids sharply below asking prices. For example, starter bids in the South were no more attractive than $122, approximately $5 below asking prices. According to the closing report, the national hog base is $0.35 lower ($63-$71, weighted average $69.55). Corn futures finished a penny plus lower on light profit-taking. The stock market closed mixed with the Dow up 100 points and the Nasdaq off 3.