DTN Closing Livestock Comment 02/27 16:00
27 Feb 2018
DTN Closing Livestock Comment 02/27 16:00 Cattle Futures Close Higher, But Well Off Session Highs The cattle complex settled higher with the best buying interest in the feeder trade. Lean hog futures settled on a mixed basis with deferreds gaining on the spring and early summer issues. By John Harrington DTN Livestock Analyst GENERAL COMMENTS The feedlot trade remained at a standstill Tuesday with just a few bids of $126 noted in parts of the South. Our guess is cattle sellers will start out pricing showlists around $130 or better on a live basis. According to the closing report, the national hog base is .33 lower ($56.50-63.75, weighted average $62.52). Old-crop corn closed 2 cents higher, supported by further reports of dry conditions in Argentina. The stock market closed lower thanks in part to the fear of rising interest rates. The Dow settled 299 points lower while the Nasdaq lost 91.