DTN Closing Livestock Comment 08/13 16:45
13 Aug 2018
DTN Closing Livestock Comment 08/13 16:45 Cattle Complex Futures Close Solidly Lower Live and feeder contracts settled under a good deal of selling pressure with nearbys losing ground to deferreds. Lean hog issues closed on a mixed basis with front months gaining on the back of the board. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Activity in the cash cattle trade was typically limited to the distribution of new showlists. Generally speaking, the new offerings look larger (especially in the South) with only Nebraska showing a few more ready steers and heifers. According to the closing report, the national hog base is $1.21 lower compared with the Prior Day settlement ($42-$44.50, weighted average $43.73). Corn futures closed a penny plus lower, checked by follow-through selling and further worries tied to the large August estimate of new-crop yield. The stock market finished lower with the Dow off 125 points and the Nasdaq down by 19.