NEWS
DTN Closing Livestock Comments
Rick Kment DTN Analyst
Tue Dec 4, 2012 03:38 PM CST

GENERAL COMMENTS:

Activity through the cash cattle markets remains undeveloped with not even token bids developing from packers. Packers remain aggressively focused on reducing procurement spending, and the lack of support in wholesale values is adding even more pressure to margins. At this point, feeders are unwilling to blink with cattle priced at $128 and higher in the South and $203 and higher in the North. According to the closing report, the Iowa hog base closed 1.15 higher compared with the Prior Day settlement ($71.00-$87.99, weighted average $85.65). Corn futures closed lower, down 2 cents in the December contract ...

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