DTN Closing Livestock Comment 05/09 16:26
9 May 2018
DTN Closing Livestock Comment 05/09 16:26 Cattle Futures Slump Lower Thanks to Long Liquidation, Fear of Topping Beef Live and feeder cattle closed moderately lower after an opening rally failed to hold. By John Harrington DTN Livestock Analyst GENERAL COMMENTS The cash cattle market remained slow to start at midweek with only scattered bids (e.g., $192 in the North/$120 in the South) and poorly defined asking prices (e.g., $195 plus in the North/$128-$130 in the South) evident across the feeding area. According to the closing report, the national hog base is $1.03 higher ($57.50-$62, weighted average $61.30). The corn market closed fractionally lower as traders slowly positioned ahead of new numbers from the World Board to be issued Thursday. The stock market closed higher with the Dow up 182 points and the Nasdaq better by 73.