DTN Closing Livestock Comment 11/16 16:32
Cattle Complex Settles Moderately Lower With Live Issues Losing Ground to
Live and feeder futures closed lower, pressured by long liquidation,
pre-Cattle on Feed report positioning, and a general lack of buying interest.
Leah issue also settled lower with nearbys losing ground to deferreds.
By John Harrington
DTN Livestock Analyst
The cash cattle trade was very quiet through the day with just a small
handful of deals reported in parts of the North (i.e., $190 dressed, $120
live). According to the closing report, the national hog base is $0.59 lower
($52-$58.25, weighted average $57.48). The corn trade closed generally 2 cents
lower, pressured by large harvest supplies and slow export biz. The stock
market closed higher with the Dow up 187 points and the Nasdaq better by 87.
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