The cattle complex closed the week with a last minute round of short-covering, causing feeders to gain somewhat on live counterparts. Lean hog issues settled mostly higher, supported by short-covering and generally positive fundamentals.
The cash cattle trade was very quiet Friday with most showlists cleaned up thanks to early week business. The National hog base closed off $0.45 compared with the Prior Day settlement ($63.00-$41.50, weighted average $69.45). From Friday to Friday livestock futures scored the following changes: Feb LC off $1.88; Apr LC off $1.40; Jan FC off $2.27; Mar FC up $0.68; Feb LH up $0.15; Apr LH off $1.75.
Corn futures closed 2 cents plus lower, pressured by a higher crop estimate and higher than expected December 1 stocks. The stock market closed higher with the Dow up 228 and the better by 49 NASDAQ.