DTN Closing Livestock Comment 11/23 16:31
23 Nov 2018
DTN Closing Livestock Comment 11/23 16:31 Livestock Futures Close Solidly Higher at Conclusion of Holiday-Shortened Session The cattle complex settled higher the day following Thanksgiving, supported by decent packer spending and the friendly Nov. 1 Cattle on Feed report. Lean hog issues also closed securely in the green with the help of late-week short-covering and board premiums. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Cash action in feedlot country was very quiet, largely because business late Wednesday turned out to be more substantial than originally thought (i.e., $116-$117 in the South, mostly $116 in the North). A few dressed deals in Nebraska and Iowa were marked as high as $182-$185. According to the closing report, the national hog base is $0.22 lower compared with the Prior Day settlement ($46-$51.03, weighted average $50.42). The corn market closed generally 2-3 cents lower in listless trade volume and commitment. Equities closed 178 points lower basis the Dow with the Nasdaq off 33.