Printable Page Market News   Return to Menu - Page 2 3 4 5 6 7 8 9 10
DTN Closing Livestock Comment 11/16 16:33
   Hog Futures Finish Pre-Holiday Business Week With Limit Gains

   Lean hog futures closed sharply higher Friday, spurred to limit gains thanks
to aggressive short-covering and oversold charts. The cattle complex settled on
a mixed basis with nearby live issues holding up reasonably well as their
feeder counterparts crashed hard.

By John Harrington
DTN Livestock Analyst


   A light to moderate trade developed in parts of the South with live prices
at $114, generally steady with last week's weighted averages. A light dressed
trade has taken place in parts of Nebraska with dressed prices at $176 to $178
(mostly $178), generally $2 lower than last week's weighted average. Some
asking prices remain firm around $116 to $117 in the South, and $180 in the
North. According to the closing report, the national hog base is .02 higher
compared with the Prior Day settlement ($46.00-52.44, weighted average $51.60).
The late-week corn trade closed about 3 cents lower as traders ignored positive
export sales and focused more on generally dry harvest weather conditions. From
Friday to Friday livestock futures scored the following changes: Dec LC, up
$0.78; Feb LC, up $1.92; Jan FC, up $2.72; Mar FC, up $1.80; Dec LH, up $4.27;
Feb LH, up $7.25. The stock market closed higher with the Dow better by 123
points and the Nasdaq in the green by 11.
No other Daily email offers as much useful Ag information as DTN Snapshot – Sign up Free today!
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN