DTN Closing Livestock Comment 12/03 16:36
3 Dec 2018
DTN Closing Livestock Comment 12/03 16:36 Cattle Futures Close Moderately Lower, Indifferent to Cash News Live and feeder contracts closed mostly lower Monday, pressured by late-year cash nervousness and firming corn prices. Lean hog issues finished no better than mixed despite optimistic speculation of improving U.S.-China trade. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Cattle buyers limited early week efforts to the distribution of new showlists. The early month offering looks generally larger (especially in Texas) with only Kansas showing fewer ready steers and heifers. According to the closing report, the national hog base is $0.26 lower compared with the Prior Day settlement ($45-$50.55, weighted average $49.50). Corn futures settled 4 cents plus higher, supported by solid export sales and stronger bean sales. The stock market closed higher with the Dow up 287 points and the Nasdaq positive by 110.