DTN Closing Livestock Comment 03/15 16:41
15 Mar 2018
DTN Closing Livestock Comment 03/15 16:41 Cattle Futures Throw in Towel on Week's Attempted Rally The cattle complex tumbled significantly lower Thursday, pressed by long liquidation and technical-selling. Lean hog futures settled mostly higher with only spot April pressured by near-term fundamentals. By John Harrington DTN Livestock Analyst GENERAL COMMENTS While some packer inquiry surfaced early in parts of the northern tier of cattle-feeding country, buying interest seemed to stall once live and feeder futures stumbled into triple-digit losses. According to the closing report, the national hog base is $0.32 lower ($53-$60.50, weighted average $58.80). Corn futures settled 1-2 cents lower, pressured somewhat by winter wheat weakness and a lack of buying interest. The stock market closed mixed with the Dow up 115 points and the Nasdaq off 15.