By DTN/The Progressive Farmer
Fri 04 Jan 2013 16:25:00 CT
DTN Closing Livestock Comments 01/04 15:52
Overheated Live Cattle Close Lower on Late Profit-Taking
The cattle complex settled on a mixed basis with live cattle falling lower
in late trade while feeders finished with moderate gains. Lean hog futures
settled under pressure linked to the bearish implications of the December 1
Hogs & Pigs report.
By John Harrington
DTN Livestock Analyst
Moderate cash trade developed in the northern tier of cattle country with
most dressed sales at $205, $2 to $3 higher than last week. However, buying
interest remains slow to develop in the South this afternoon where most
showlists are priced between $130 and $32. Late-week trading could still
develop in Kansas and Texas before the day is over. According to the closing
report, the Iowa hog base closed $1.96 higher compared with the Prior Day
settlement ($70.00-$86.00, weighted average $84.06). Corn futures fell
moderately, down 9 in the March contract and down 10 1/4 in the May.
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*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.