DTN Closing Livestock Comment 11/26 16:20
26 Nov 2018
DTN Closing Livestock Comment 11/26 16:20 Hog Futures Kick Off Late November With Significant Losses Lean hog issues closed with triple-digit losses Monday, pressured by long liquidation and uncertain late-year pork demand. The cattle complex, for the most part, settled moderately lower, reflecting indecision and confusion over the tail-end of 2018 fundamentals. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Cattle buyers and feedlot managers focused exclusively Monday on the distribution of new showlists. Generally speaking, the late-month offering looks larger than last week with only Kansas showing fewer ready steers and heifers. According to the closing report, the national hog base is $0.22 lower compared with the Prior Day settlement ($45-$51.41, weighted average $50.19). March corn closed 2 1/2 cents, largely pressured by noncommercial liquidation as prices have now given back over half of their fall rally. The stock market stormed back to life Monday with the Dow closing 354 points higher and the Nasdaq advancing by 142.