DTN Closing Livestock Comment 12/09 16:40
Cattle Complex Futures Close the Week Moderately Lower
Live and feeder futures fell moderately lower, but significantly higher than
early session lows. On the other hand, lean hog contracts settled on a mixed
basis with most contracts finishing near session highs.
By John Harrington
DTN Livestock Analyst
Light to moderate trade volume was evident in most areas of cattle feeding
country. Yet, the best market test developed in the South with live sales at
$110.00, $5.00 lower than last week. Some dressed business surfaced in parts of
the North at $170.00, steady with yesterday, but $5.00 lower than the previous
week. The National hog base closed $0.78 lower compared with the Prior Day
settlement ($46.00-$54.50, weighted average $52.66). From Friday to Friday,
livestock futures scored the following changes: Dec LC, up $0.50; Feb LC, up
$1.65; Jan FC, up $1.35; Mar FC, up $0.98; Dec LH, up $5.97; Feb LH, up $7.53.
Corn futures closed mostly .06 cents higher, supported by late-week commercial
buying. New supply and demand tables released by the World Board appeared to be
generally neutral, the world corn stocks turned out to be somewhat larger than
expected. Dow close at a record 19,756, 142 points higher than yesterday. At
the same time the Nasdaq gained 27.
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