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DTN Closing Livestock Comment 08/14 16:14
Cattle Futures Close Higher in Live Market and Mixed in Feeder Trade
The cattle complex landed technically insignificant closes with the live
issues moderately higher and the feeder market mixed.
By John Harrington
DTN Livestock Analyst
The cash cattle trade looked like an essential no-show throughout the day
with just a few scattered bids of $173 reported in parts of the North.
Initially, asking prices were poorly defined. Yet we were surprised to see one
large string of 5,000 head reported sold in the North by Mandatory at $109.50
(nearly $2 lower than last week's weighted average basis Nebraska). According
to the closing report, the national hog base is $1.04 lower compared with the
Prior Day settlement ($40-$44.00, weighted average $42.69). Corn futures surged
higher by as much as 6 cents, supported in part by aggressive strength in
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