DTN Closing Livestock Comment 03/07 14:29
7 Mar 2019
DTN Closing Livestock Comment 03/07 14:29 Recovery in Feeders Leads Livestock Gains A strong volume of futures-buying interest in the April feeder cattle market led the upward direction in livestock Thursday. Live cattle futures showed milder gains. Cash cattle trade began for the week Thursday afternoon, steady with previous levels. Only the June and July hog contracts posted any downward movement at the close. By Elaine Kub DTN Contributing Analyst GENERAL COMMENTS: A light-to-moderate live trade is being noted in the South at $128, fully steady with last week's weighted average, while a light dressed trade has developed already in parts of the North at $205, also fully steady with last week's weighted average basis Nebraska. According to the closing report, the national hog base is $0.33 higher (carcass base price $41.50-$46.00, weighted average $44.89). Corn futures settled 6 1/2 cents lower in an acceleration of their recent downward trend and perhaps in anticipation of a bearish supply-and-demand report coming Friday. The stock market also posted stiff losses, down 25 points (1%) in the S&P 500.