DTN Closing Livestock Comment 07/25 16:21
Cattle Futures Close Explosive Week With New Highs
Triple-digit gains dominated the live and feeder cattle pits, sparked by
large cash premiums and technical buying. Lean hog futures settled on a mixed
basis thanks to bear-spreading and late-week profit-taking.
By John Harrington
DTN Livestock Analyst
Light to moderate trading surfaced again in cattle country with short-bought
packers willing to spend pretty much whatever it took. Live sales in the South
were marked at $165, $10 higher than last week. Live business in the North
ranged from $163 to $166, $8 to $10 higher than last week. According to the
closing report, the Iowa hog base is $0.72 lower compared with the Prior Day
settlement ($120.00-$128.00, weighted average $125.56). Corn futures closed
modestly higher, up 1 1/2 in the September, up 2 1/4 in the December and up 2
in the March.
No other Daily email offers as much useful Ag information as DTN Snapshot – Sign up