DTN Closing Livestock Comment 08/24 17:33
24 Aug 2018
DTN Closing Livestock Comment 08/24 17:33 Most Cattle Futures Close Week Sharply Lower For the most part, the cattle complex closed sharply lower with triple-digit losses dominating both live and feeder markets. On the other hand, lean hog issues settled solidly higher with 2019 contracts gaining on nearbys. By John Harrington DTN Livestock Analyst GENERAL COMMENTS The cash cattle trade Friday was limited to scattered examples of cleanup business. For the most part, trade volume was completed on Wednesday and Thursday. The national hog base closed off $0.20 compared with the Prior Day settlement ($34-$37.50, weighted average $37.06). From Friday to Friday, livestock futures scored the following changes: Aug LC off $03.17; Oct LC off $4.17; Aug FC off $1.75; Sep FC off $4.35; Oct LH off $6.83; Dec LH off $4.05. Corn futures closed several cents higher, modestly supported by light short-covering at the tail end of a very bearish week. Traders seem to be increasingly convinced that a large harvest is just around the corner. The stock market closed higher with the Dow up 133 points and the Nasdaq better by 67.