DTN Closing Livestock Comment 04/09 17:03
9 Apr 2018
DTN Closing Livestock Comment 04/09 17:03 Lean Hogs Bounce Significantly Higher as Trade War Fears Ease For the most part, lean hog issues surged higher with triple-digit gains, sparked by aggressive short-covering and a general lessening of nervousness regarding trade war prospects. The cattle complex sold off late in the day to close no better than mixed. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Feedlot country put in a typically slow Monday with the distribution of new showlists the only order of business. Ready numbers look generally larger, with only Colorado offering fewer fed steers and heifers. According to the closing report, the national hog base is $0.44 higher ($42-$47, weighted average $45.60). The corn market closed generally 2 cents higher, supported by higher bean and wheat action, as well as positioning ahead of new s&d tables set for release Tuesday. The stock market closed higher (e.g., the Dow gained 46 points; the Nasdaq advanced by 35), but well off session highs. Some blamed late selling on a report that FBI officers had raided the office of President Donald Trump's personal lawyer.