DTN Closing Livestock Comment 08/02 16:11
2 Aug 2018
DTN Closing Livestock Comment 08/02 16:11 Lean Hog Futures Collapse Further, Led by 2018 Contracts The relentlessly bearish tone of the hog cash market drove nearby lean futures to yet another new set of contract lows. The cattle complex settled mostly lower, though with considerably less determination. By John Harrington DTN Livestock Analyst GENERAL COMMENTS The Thursday cash trade proved every bit as quiet as Monday, perhaps more so because it even lacked the paper shuffle of new showlists being distribution. Guess what: This means that the stage is set for yet another round of Friday negotiations. According to the closing report, the national hog base is $1.41 lower compared with the Prior Day settlement ($53-57.50, weighted average $56.22). For the most part, corn futures settled several cents higher, pulling back a nickel plus from the highs of the day. Near the close, corn suffered when bullish wheat shirttails started to droop. The stock market closed mixed with the Dow off 7 points and the Nasdaq up 95.