Dakota Ag Cooperative 
Thursday, July 24, 2014  
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DTN Closing Livestock Comment 07/23 16:37
   Lean Hog Futures Implode With Limit Losses

   The lean hog pit closed sharply lower with the first four contracts dropping
the legal limit. On the other hand, live cattle futures settled mixed with the
feeder trading finishing mostly higher.

By John Harrington
DTN Livestock Analyst


   Light cattle trading surfaced in parts of the North with some buyers
spending as much as $255 on a dressed basis $8 higher than Nebraska's weighted
average last week.  Parts of the South reported bids at $156. Asking prices are
around $160-plus in the South and $255-plus in the North. According to the
closing report, the Iowa hog base is 0.80 lower compared with the Prior Day
settlement ($123.00-$126.47, weighted average $125.23). Corn futures closed
generally 2 cents higher, modestly supported by short covering and a sharp
rally in the bean pit. The stock market generally appreciated Wednesday with
the S&P 500 finishing at a record for the 26th time this year. The Dow closed
26 points lower with the Nasdaq up 17.
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