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DTN Livestock Close: Feeder Cattle Finish Week With Triple-Digit Losses

Ernst Undesser
By John Harrington DTN Livestock Analyst November 17, 2017

DTN Livestock Close: Feeder Cattle Finish Week With Triple-Digit Losses

The cattle complex closed solidly lower with feeders feeding the late-week sell-off. On the other hand, lean hog contracts settled on a mixed basis with nearbys gaining on their deferred counterparts.

GENERAL COMMENTS

The cash cattle trade was not tested in the late rounds with buyers and sellers apparently satisfied with trade volume generated at midweek. Showlists could be somewhat larger on Monday, but so should packer appetite given the need to line up the full slaughter schedule following Thanksgiving. The National hog base closed off $0.59 compared with the Prior Day settlement ($51.00-$58.25, weighted average $56.96).

From Friday to Friday, livestock futures scored the following changes: Dec LC off $1.72; Feb LC off $2.08; Jan FC off $5.45; Mar FC off $4.95; Dec LH off $1.82; Feb LH off $3.18.

Corn futures closed 6 cents plus higher, supported by pre-holiday short-covering and commercial buying interest. The stock market closed lower with the Dow off 100 points and the NASDAQ down by 10.

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Ernst Undesser
By John Harrington DTN Livestock Analyst November 17, 2017