DTN Closing Livestock Comment 12/17 15:35
17 Dec 2018
DTN Closing Livestock Comment 12/17 15:35 Livestock Futures Launch Pre-Holiday Week on the Defensive The cattle complex closed significantly lower Monday with triple-digit losses particularly dominating the feeder trade. Lean hog issues also settled in determined retreat, pressured by bearish fundamentals expected to last through the end of the year. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Potential cattle buyers limited their efforts to the gathering of new showlists Monday. Ready numbers appear to be much smaller around the feeding circuit, especially in the South. Only Nebraska lots are advertising a few more fed steers and heifers for sale. According to the closing report, the national hog base is $0.26 lower compared with the Prior Day settlement ($41-$47.15, weighted average $46.12). March corn was less than a penny lower on low trading volume, staying confined to a narrow, sideways range in December. Equities continued their late-year struggle with the Dow closing 506 points lower and the Nasdaq off by 156.