DTN Closing Livestock Comment 03/05 16:23
5 Mar 2018
DTN Closing Livestock Comment 03/05 16:23 Oversold Meat Futures Stage Decent Early Week Bounce The cattle complex closed sharply higher with triple-digit gains dominating both live and feeder markets. Lean hog contracts also scored a decent round of recovery, though most of the buying interest was focused on the first three issues. By John Harrington DTN Livestock Analyst GENERAL COMMENTS The cash cattle trade limited efforts to early week maintenance, including the distribution of new showlists. The early month offering appears to be smaller than last week, especially in the South. According to the closing report, the national hog base is .27 higher ($56.00-to-63.00, weighted average $62.34). Corn futures settled about 2 cents higher, closing near a seven-month high. The stock market closed higher with the Dow up 336 points and the Nasdaq better by 72.