DTN Closing Livestock Comment 08/01 16:44
1 Aug 2018
DTN Closing Livestock Comment 08/01 16:44 Cattle Futures Jump Sharply Higher The cattle complex surged sharply higher at midweek with triple-digit gains dominating both live and feeder markets. On the other hand, lean hog futures settled moderately lower for the most part. By John Harrington DTN Livestock Analyst GENERAL COMMENTS The cash cattle trade remained untested Wednesday with some asking prices of $115 countered with bids of $110. According to the closing report, the national hog base is $1.84 lower compared with the Prior Day settlement ($55-$58.50, weighted average $57.65). After a two-day rally, corn futures retreated by 7 cents Wednesday, pressured by the new six- to 10-day forecast that takes a good deal of heat and dryness out of Corn Belt prospects. The stock market closed mixed with the Dow off 81 points and the Nasdaq up 35.