DTN Livestock Close: Beef Futures Led by Strength in Feeder Market

The cattle complex settled with respectable price progress with feeder issues outperforming their live counterparts. On the other hand, lean hog contracts ended widely mixed as spot December faltered in the face of triple-digit gains in 2019 months.

GENERAL COMMENTS:

Feedlot business was marked by a few scattered bids around the circuit Wednesday (e.g., $113 dressed in the North; $112-$114 live in the South), but far below asking prices of around $120-$122 in the South and $190 in the North.

According to the closing report, the national hog base is $1.14 lower compared with the Prior Day settlement ($44-$49.87, weighted average $47.51).

Corn futures settled fractionally lower in lackluster trade volume. Grain traders continue to wait for the sand to shift regarding the confusing optimism that came out of last week’s G-20 Summit. The stock market was closed Wednesday in observation of President H.W. Bush’s funeral.

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