DTN Closing Livestock Comment 10/17 17:11
17 Oct 2018
DTN Closing Livestock Comment 10/17 17:11 Lean Hog Futures Bomb With Triple-Digit Losses Hog paper closed sharply lower, pressured by defensive cash action and seasonal fundamentals. The cattle complex settled with mixed price with deferreds losing ground to spot contracts. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Light trade was scattered around parts of the North Wednesday with a few dressed deals marked at $110-$111. At the same time, a few live bids in the North were tagged at $172-$174. On the other hand, the South remained at an essential standstill with significant trade volume delayed until Thursday or Friday. According to the closing report, the national hog base is $0.79 lower compared with the Prior Day settlement ($53-$60.50, weighted average $58.97). Corn futures settled about a penny lower, pressured by dry forecasts and hopes of harvest progress. The stock market closed lower with the Dow down 97 points and the Nasdaq off by 2.