Printable Page Market News   Return to Menu - Page 2 3 4 5 6 7 8 9 10
DTN Closing Livestock Comment 08/01 16:38
   Cattle Futures Close Significantly Lower Despite Cash Premiums

   Live and cattle futures closed sharply lower, pressured by long liquidation,
technical selling, and worries over late-summer beef demand. Lean hog contracts
closed mixed with deferreds generally gaining on nearby contracts.

By John Harrington
DTN Livestock Analyst


   Light to moderate trading developed in most areas of cattle feeding country
Friday. Prices seemed generally steady, though in some areas it was difficult
to put together a meaningful market test. Most live deals in the South were
marked at 163.00, generally steady with last week's weighted average. Dressed
sales in the North ranged from $255.00-$258.00. Last week's weighted average
was $256.86. According to the closing report, the Iowa hog base closed 1.62
lower compared with the Prior Day settlement ($111.00-121.00, weighted average
$119.56). Corn futures closed generally 0.04 lower, pressured by foreign demand
concerns and sharply lower feed prices. The stock market closed lower with the
S&P recording its worst weekly loss since June 2012. Investors appear to be
disappointed by the jobs report as well as Thursday's ugly sell-off. The Dow
closed 69, with the Nasdaq off by 17. From Friday to Friday livestock futures
scored the following changes: Aug LC, Off 1.80, Oct LC, Off 3.80; Aug FC, Up
2.02; Sep FC, Up .65; Aug LH, Off 5.60; Oct LH, Off 4.45.
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