DTN Closing Livestock Comment 01/31 17:07
31 Jan 2018
DTN Closing Livestock Comment 01/31 17:07 Feeder Cattle Futures Crash With Triple-Digit Losses The cattle complex closed significantly lower with feeder issues attracting the most selling interest. Lean hog contracts closed mostly lower with only spot February settling higher. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Light-to-moderate trade developed in the Northern tier of cattle feeding country with most dressed deals marked at $200, steady with last week. The Jan. 1 cattle inventory came in close to trade expectations, documenting the fourth consecutive year of growing numbers. Total cattle numbers were up 1% from the prior year. The beef cow herd was up 2%, as was the 2017 calf crop. According to the closing report, the national hog base is $0.77 higher ($62-$72, weighted average $70.34). Corn futures closed generally flat after a round of lackluster trading. Equities closed higher with the Dow up 72 points and the Nasdaq in the green by 9.