DTN Closing Livestock Comment 08/28 15:46
28 Aug 2018
DTN Closing Livestock Comment 08/28 15:46 Livestock Futures Stage Partial Retreat From Monday's Rally The cattle complex closed substantially lower Tuesday, though late short-covering worked to limit damage from midsession lows. Lean hog futures reversed some from Monday's impressive rally with spot October nearly canceling yesterday's limit gain. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Feedlot country was generally quiet through the day with a few showlists in the South priced at $111. According to the closing report, the national hog base is .14 lower compared with the prior day settlement ($34.00 to $37.65, weighted average $37.03). For the most part, corn futures closed a nickel lower, checked by impressive late-summer ratings and signs of early harvest progress. The stock market closed higher with the Dow up 14 points and the Nasdaq better by 12.