DTN Closing Livestock Comment 08/17 16:58
Triple-Digit Losses Flood Livestock Futures
Cattle futures continued to collapse on Thursday with live and feeder
contracts hammered by long liquidation and technical selling. Lean hog issues
also crashed sharply lower thanks to increasingly bearish fundamentals.
By John Harrington
DTN Livestock Analyst
Light-to-moderate cattle trading surfaced in Kansas and Texas at $110 on a
live basis, $5 lower than last week. Light biz was evident in the North with
dressed deals ranging from $173-$175 (mostly $175), $8-$10 lower than last
week's weighted average basis Nebraska. According to the closing report, the
national hog base is $0.93 lower ($70-$77, weighted average $75.46). December
corn slipped another 2 cents lower in light volume, posting its lowest settle
since July 2016. The stock market closed 274 points with the Nasdaq down by 123.
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