DTN Closing Livestock Comment 05/14 16:26
14 May 2018
DTN Closing Livestock Comment 05/14 16:26 Cattle Futures Implode Thanks to Long Liquidation, Technical-Selling The cattle complex is off to a rough start this week with triple-digit losses dominating both live and feeder contracts. On the other hand, summer lean hog futures surged sharply higher thanks to seasonally bullish fundamentals. By John Harrington DTN Livestock Analyst GENERAL COMMENTS The cash cattle trade was limited in sequence and scope to the distribution of new showlists. Ready numbers were mixed, larger in Kansas and Colorado, smaller in Texas, and near even in Nebraska. Overall, the new offerings look about steady with last week. According to the closing report, the national hog base is $0.86 higher ($56-$64.50, weighted average $62.76). The corn market settled fractionally lower as forecasts for friendly growing conditions offset any spillover enthusiasm from sharply higher bean prices. The stock market closed higher with the Dow up 68 points and the Nasdaq better by 8.