DTN Closing Livestock Comment 08/29 15:25
29 Aug 2018
DTN Closing Livestock Comment 08/29 15:25 Meat Futures Settled on a Mixed Basis The cattle complex closed with uneven prices, though nearby issues generally outperformed deferred counterparts. Lean hog futures closed narrowly mixed thanks to a variety of spreading strategies. By John Harrington DTN Livestock Analyst GENERAL COMMENTS The cash feedlot trade essentially remained a nonevent Wednesday. We saw a few more bids tossed in the ring (i.e., $106 live; $168 to $170 dressed), but very little attractive enough to spark meaningful business. Asking prices were around $111 to $112 live and $175 dressed. According to the closing report, the national hog base is $.23 lower compared with the Prior Day settlement ($33.00 to $37.00, weighted average $36.82). The corn market settled fractionally higher, modestly supported by light short covering and strength in the wheat trade. The stock market closed higher with the Dow up by 61 points and the Nasdaq positive by 79 points.