DTN Closing Livestock Comment 11/21 15:36
21 Nov 2018
DTN Closing Livestock Comment 11/21 15:36 Cattle Futures Close Moderately Higher, Buoyed by Ideas of Steady-to-Firm Feedlot Sales The cattle complex closed with a firm undertone thanks to late-session short-covering and friendly on-feed news. Lean hog contracts finished moderately lower, checked by profit-taking and overbought deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The fed cattle trade was thinly tested at midweek. Some Southern bids were reported at $112, a good $5 below area asking prices. Scattered live bids were identified in parts of the North at $114. A handful of dressed deals were turned in at $180. For the most part, it looks like significant trade will be delayed until sometime Friday. According to the closing report, the national hog base is $0.61 lower compared with the Prior Day settlement ($46-$51.70, weighted average $50.76). Corn futures settled fractionally higher in lackluster trading leading into the Thanksgiving break. The stock market closed mixed with the Dow slightly lower and the Nasdaq better by 63 points.