DTN Closing Livestock Comment 08/14 16:14
14 Aug 2018
DTN Closing Livestock Comment 08/14 16:14 Cattle Futures Close Higher in Live Market and Mixed in Feeder Trade The cattle complex landed technically insignificant closes with the live issues moderately higher and the feeder market mixed. By John Harrington DTN Livestock Analyst GENERAL COMMENTS The cash cattle trade looked like an essential no-show throughout the day with just a few scattered bids of $173 reported in parts of the North. Initially, asking prices were poorly defined. Yet we were surprised to see one large string of 5,000 head reported sold in the North by Mandatory at $109.50 (nearly $2 lower than last week's weighted average basis Nebraska). According to the closing report, the national hog base is $1.04 lower compared with the Prior Day settlement ($40-$44.00, weighted average $42.69). Corn futures surged higher by as much as 6 cents, supported in part by aggressive strength in soybean meal.