DTN Closing Livestock Comment 07/31 16:39
31 Jul 2018
DTN Closing Livestock Comment 07/31 16:39 Feeder Cattle Futures Hit Hard By Another Leg in Corn Rally The cattle complex closed sharply lower in the feeder market and mixed in the live trade. Lean hog futures settled mostly lower except for just a few examples of modest strength in winter and spring 2019 issues. By John Harrington DTN Livestock Analyst GENERAL COMMENTS As expected, the cash cattle trade Tuesday remained at a virtual standstill with just a few Northern bids noted at $174 and some showlists priced around $115 live and $182 plus dressed. Additionally, some Southern bids have been reported at $109-$110. According to the closing report, the national hog base is $1.46 lower compared with the Prior Day settlement ($56-$62, weighted average $59.54). The corn market finished another nickel or so higher, supported by sharply higher action in the bean trade. The stock market closed 108 points higher basis the Dow and 41 higher on the Nasdaq.