DTN Closing Livestock Comment 12/08 15:41
Meat Futures Close With Mixed Settlements
Cattle futures closed moderately lower, checked by long liquidation and
late-year demand worries. Lean hog issues finished respectable higher, but well
off early session highs.
By John Harrington
DTN Livestock Analyst
Moderate trade volume surfaced Thursday in the northern tier of cattle
feeding country. Most dressed deals were marked at $170, $5 lower than last
week's weighted average basis Nebraska. The South remained dead quiet with both
bids and asking prices poorly defined. According to the closing report, the
national hog base is $1.83 higher ($45.00-54.50, weighted average $53.45). The
corn trade closed mostly 4 cents lower, pressured by spillover bearishness from
the bean market and a stronger dollar. U.S. equities closed with another round
of new highs. The Dow finished 56 points higher with the Nasdaq better by 25.
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