DTN Closing Livestock Comment 01/26 17:16
26 Jan 2018
DTN Closing Livestock Comment 01/26 17:16 Cattle Bulls Take Back Midweek Loss With Vengeance The cattle complex roared back into the passing lane Friday with triple-digit gains supported by technical-buying and cash optimism. In contrast, lean hog issues closed modestly lower in slow volume. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Although cattle buyers delayed procurement chores until after the on-feed report, late-afternoon business was definitely higher. Light-to-moderate trade volume has been reported in parts of the South at $126-$127, $3-$4 higher than last week. Most dressed deals (moderate volume) in the North were marked at $200, $5 higher than last week's weighted average basis Nebraska. According to the closing report, the national hog base is $0.42 lower ($62-$70), weighted average $69.49). Corn futures settled a penny plus higher, concluding yet another going-nowhere week. The stock market once again popped sharply higher with the Dow up 225 points and the Nasdaq better by 94.