DTN Closing Livestock Comment 12/17 15:35
Livestock Futures Launch Pre-Holiday Week on the Defensive
The cattle complex closed significantly lower Monday with triple-digit
losses particularly dominating the feeder trade. Lean hog issues also settled
in determined retreat, pressured by bearish fundamentals expected to last
through the end of the year.
By John Harrington
DTN Livestock Analyst
GENERAL COMMENTS: Potential cattle buyers limited their efforts to the
gathering of new showlists Monday. Ready numbers appear to be much smaller
around the feeding circuit, especially in the South. Only Nebraska lots are
advertising a few more fed steers and heifers for sale. According to the
closing report, the national hog base is $0.26 lower compared with the Prior
Day settlement ($41-$47.15, weighted average $46.12). March corn was less than
a penny lower on low trading volume, staying confined to a narrow, sideways
range in December. Equities continued their late-year struggle with the Dow
closing 506 points lower and the Nasdaq off by 156.
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