DTN Closing Livestock Comment 12/10 15:55
Cattle Complex Settles Mixed With Feeder Issues Higher and Live Contracts
Live and feeder issues moved toward midmonth with mixed price action as the
former lost ground to the latter. Lean hog futures also settled on a mixed
basis with spot December reclaiming some price territory formerly lost to 2019
By John Harrington
DTN Livestock Analyst
GENERAL COMMENTS: Feedlot country was typically quiet to start the week with
packers focusing on the distribution of new showlists. Ready numbers are mixed,
larger in Kansas, steady in Colorado, and smaller in Nebraska and Texas.
Overall, the mid-December offering looks somewhat smaller than last week.
According to the closing report, the national hog base is $0.49 higher compared
with the Prior Day settlement ($43-$48.56, weighted average $47.35). March corn
closed down 1 1/2 cents, not getting much of a boost from Monday's bullish
export news (i.e., USDA announced 34.5 million bushels of corn were inspected
for export last week, enough to put total inspections up 76% from a year ago).
Recovering from early weakness, the stock market closed higher with the Dow up
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