DTN Closing Livestock Comment 07/26 17:03
26 Jul 2018
DTN Closing Livestock Comment 07/26 17:03 Triple-Digit Losses Aggressively Pound Both Cattle and Hog Futures Reversing from early gains, the cattle complex reversed to close sharply lower thanks to long liquidation and technical-selling. Lean hog issues also opened much better than they closed with nearbys generally losing ground to deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS The cash cattle trade remained untested Thursday with bids and asking prices still separated by a country mile or two (e.g., $110 versus $116 basis the South). According to the closing report, the national hog base is $1.26 lower compared with the Prior Day settlement ($60-$67.99, weighted average $63.75). Corn futures settled several cents higher, further supported by mid-month news of lower ending world stocks in 2018-19. The stock market closed mixed with the Dow up 112 points and the Nasdaq off 80.