DTN Closing Livestock Comment 01/04 15:32

DTN Closing Livestock Comment 01/04 15:32 Cattle Futures Close Opening Round of 2019 Business With Triple-Digit Losses Live and feeder futures settled sharply lower, checked by long liquidation, wobbly beef demand and moderating feeding weather. On the other hand, lean hog issues finished on a mixed basis thanks to uncertain pork demand in the face of record production levels ahead. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Light-to-moderate trade volume was noted in parts of the North at $195 on a dressed basis, steady with last week's weighted average basis Nebraska. On the other hand, additional business in the South was tough to identify. Most regional biz may have been completed on Thursday (i.e., $125 live, steady). The national hog carcass base closed $0.79 higher ($45.50-$50, weighted average, $48.22). March corn closed up 3 1/4 cents at $3.83, benefiting further from light rain amounts and hot temperatures in the seven-day forecast for southern Brazil. At the same time, chances for heavy rains remain in the forecast for northern Argentina, and that is also a threat to developing row crops as local flooding is possible. Jazzed by aggressive job growth in December (312,000), the stock market recovered with a vengeance: The Dow advanced by 746 points and the Nasdaq gained 275. From Friday to Friday, livestock futures scored the following changes: Feb LC, off $2.25; Apr LC, off $2.40; Jan FC, off $4.17; Mar FC, off $4.05; Feb LH, up $1.30; Apr LH, up $0.25.