NEWS
DTN Closing Livestock Comments
John Harrington DTN Livestock Analyst
Wed Apr 17, 2013 03:39 PM CDT

GENERAL COMMENTS:

The fed cattle trade remained grounded throughout the day as impressive strength in futures encouraged producers to dig in their heels in terms of higher asking prices (i.e., $128-plus in the South, $205-plus in the North. According to the closing report, the Iowa hog base closed .61 lower compared with the Prior Day settlement ($66.00-$80.00, weighted average $78.72). New crop corn futures finished 6-7 cents higher, support by fears of planting delays. The stock market closed significantly lower, pressured by a batch of weaker-than-expected earnings. The Dow settled off 138 points with the Nasdaq down 59.

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