DTN Closing Livestock Comment 11/28 16:31
28 Nov 2018
DTN Closing Livestock Comment 11/28 16:31 Midweek Futures Close With Mixed Results The cattle complex settled with uneven trends as feeder issues generally lose ground to their live counterparts. Lean hog futures once again saw deferred contracts falter vis-a-vis nearby contracts. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Although the cash cattle arena was peppered with some preliminary bids (i.e., $180 to $183 in the North) and asking prices (i.e., $119 to $120 in the South; $187-plus in the North), nothing really came together to form meaningful trade volume. According to the closing report, the national hog base is .26 higher compared with the prior fay settlement ($45.00 to $50.74, weighted average $49.59). Supported by bean strength and encouraging talk about the possibility of China and the U.S. mending trade fences, corn futures managed to close 4 cents-plus higher. The stock market exploded higher as Chairman Powell touted interest rate stability. The Dow closed 617 points in the green with the Nasdaq up 208.