DTN Closing Livestock Comment 12/19 16:21
19 Dec 2018
DTN Closing Livestock Comment 12/19 16:21 Cattle Paper Closes Mixed in Slow Motion Thanks to Pre-Report, Pre-Cash Uncertainty Live and feeder futures settled on both sides of unchanged without indicating much of a trend preference. Lean hog contracts closed modestly higher, for the most part, thanks to light short-covering and positioning ahead of the Dec. 1 inventory. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Cash cattle business remained a no-show at midweek with packer bids largely hidden until Thursday or Friday. Live steers and heifers were priced around $120-$122. We saw a few Northern cattle priced on a dressed basis around $192. According to the closing report, the national hog base is $0.40 lower compared with the Prior Day settlement ($40-$46.49, weighted average $45.44). March corn fell nearly 4 cents, on disappointment from a third consecutive day of no export sales announcements and a worrisome spike in ethanol inventory. Unnerved by interest rate hikes, the stock market closed with new lows for the year. The Dow sank 351 points and the Nasdaq gave up 147.