DTN Closing Livestock Comment 08/20 16:15
20 Aug 2018
DTN Closing Livestock Comment 08/20 16:15 Hog Paper Cools From Red-Hot Late-Week Rally Lean hog futures closed lower thanks to long liquidation and profit-taking in the wake of last week's board explosion on Thursday and Friday. On the other hand, the cattle complex settled narrowly mixed tied to a slow combination of commercial selling and short-covering. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Feedlot country was typically quiet for a Monday with buyers and sellers solely focused on the distribution of new showlists. The offering looks larger in Texas, some smaller in Kansas and Nebraska, and about unchanged in Colorado. Overall, ready numbers look about steady with last week. According to the closing report, the national hog base is $0.37 lower compared with the Prior Day settlement ($38-$41, weighted average $40.21). Corn futures settled several cents lower, pressured by beneficial rains over the weekend in the western and central Corn Belt. The stock market closed higher with the Dow up 89 points and the Nasdaq better by 4.