DTN Closing Livestock Comment 11/29 15:59
29 Nov 2018
DTN Closing Livestock Comment 11/29 15:59 Hog Futures Settle Sharply Higher Tied to Late-Year Optimism Lean hog futures closed with significant price progress Thursday thanks to improving fundamental prospects. The cattle complex finished on a defensive basis with feeder issues attracting the most selling interest. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Northern cattle buyers threw out a few more bids Thursday (e.g., $180 to $183 dressed; $115 live), but nothing fancy enough to spark real selling interest. Cash potential in the South proved even deader. According to the closing report, the national hog base is .36 lower compared with the prior day settlement ($45.00-51.00, weighted average $49.49). The corn market closed essentially unchanged, though some buyers claimed token support linked to firm export sales. The stock market closed lower with the Dow off 27 points and the Nasdaq off 18.