DTN Closing Livestock Comment 08/19 15:26
Live, Feeder Cattle Futures Return to Long Liquidation
The cattle complex closed sharply lower, pressured by a combination of long
liquidation and profit taking. On the other hand, lean hog futures settled on a
mixed basis with deferreds gaining a moderate amount of ground on nearbys.
By John Harrington
DTN Livestock Analyst
Feedlot country was as quiet as a small-town library Tuesday with little
evident of either bids or asking prices. A few showlists were priced around
$157-$158 in the South and $248-plus in the North. According to the closing
report, the Iowa hog base is $2.30 lower compared with the Prior Day settlement
($93.00-$100.25, weighted average $99.54). For the most part, the corn market
finished fractionally higher at the conclusion and slow and largely featureless
business. U.S. stocks climbed on Tuesday with the Nasdaq moving toward a
14-year high. The Dow closed 80 points higher with the Nasdaq better by 19.
Your local weather forecast from DTN can be sent to your email every morning free through DTN Snapshot