DTN Closing Livestock Comment 11/09 17:56

DTN Closing Livestock Comment 11/09 17:56 Beef Futures Exit Week With Ugly Losses, Disappointed by Reluctant Packer Bids Live and feeder closed with triple-digit losses, pulled lower by faltering country bids and tough wholesale beef demand. Lean hog futures settled mostly lower with 2019 contracts catching the most selling interest. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: A light-to-moderate trade has developed in parts of the North, with live deals marked at $113 to $114.50, generally $1.50 to $2 lower than last week. Dressed business in that area ranges from $179 to $180, steady to $1 lower than last week's weighted average basis Nebraska. A light-to-moderate trade has also surfaced in parts of the South with live deals at $114 to $115, mostly $114, generally $2 lower than last week. According to the closing report, the national hog base is $0.97 lower compared with the Prior Day settlement ($48-$54.75, weighted average $53.35). December corn fell a short 4 cents lower, checked by larger-than-expected stocks held by China. The stock market closed lower with the Dow off 201 and the Nasdaq down by 123. From Friday to Friday, livestock futures scored the following changes: Dec LC, off $2.50; Feb LC, off $4.40; Nov FC, off $3.50; Jan FC, off $5.95; Dec LH, off $2.32; Feb LH, off $5.15.