DTN Closing Livestock Comment 04/20 16:27
20 Apr 2018
DTN Closing Livestock Comment 04/20 16:27 Cattle Futures Conclude Choppy Session With Significant Gains The cattle complex settled significantly higher Friday with nearby live issues especially supported by greater packer spending. Lean hog contracts closed moderately lower, pressured by long liquidation and late-week profit-taking. By John Harrington DTN Livestock Analyst GENERAL COMMENTS The Northern tier of cattle-feeding country turned active as feedlot managers responded to another round of higher packer bids. For example, live deals in Nebraska ranged from $122-$124, $0.50 to $2.50 higher. Some dressed business in Nebraska and Iowa was reported as high as $193 to $195, $3 to $5 higher. The National hog base closed off $0.51 compared with the Prior Day settlement ($50-$61.50, weighted average $57.65). From Friday to Friday, livestock futures scored the following changes: Apr LC up $2.80; Jun LC up $0.07; May FC off $1.05; Aug FC off $0.60; Jun LH off $0.10; Jul LH up $0.45. Corn futures closed a nickel plus lower pressured by warming temperatures and ideas of significant planting progress in the weeks ahead. The stock market closed lower with the Dow off 201 and the Nasdaq down by 91.