DTN Closing Livestock Comment 04/10 16:39
10 Apr 2018
DTN Closing Livestock Comment 04/10 16:39 Meat Futures Settle With Mixed Prices After a lackluster round of trading, cattle futures settled narrowly mixed with traders waiting to get a better feel of near -term fundamentals. Lean hog contracts also closed on both sides of unchanged with nearbys generally gaining on deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS The cash cattle trade was very slow through the day with just a few scattered bids noted in Kansas and parts of the North. Some showlists were priced around $120 on a live basis. According to the closing report, the national hog base is $0.56 higher ($42-$47.50, weighted average $46.27). The corn trade closed a penny plus lower, slightly pressured after USDA increased its estimate of U.S. ending corn stocks from 2.127 billion bushels to 2.182 bb. The stock market scored a strong recovery thanks in part to a further lowering of trade worries by Chinese officials. The Dow jumped 428 points on the close with the Nasdaq up by 143.