DTN Closing Livestock Comment 12/07 19:18

DTN Closing Livestock Comment 12/07 19:18
   Lean Hog Futures Close Week Mostly Higher

   With the modest exception of spot December and far deferred contracts, lean
hog issues closed moderately higher, supported in parts by production threats
for 2019 tied to further expansion of ASF. The cattle complex settled narrowly
mixed thanks to ongoing cash confusion and uncertainty.

By John Harrington
DTN Livestock Analyst

   GENERAL COMMENTS: Cash cattle development has been slower than molasses to
develop Friday afternoon. Light to moderate dressed deals were reported in
parts of the North at $$187, $3 higher than some biz last week. Late live bids
in the South were posted as high as $118-$119, but as of this writing, we can't
confirm much trade volume. According to the closing report, the national hog
base is $0.48 higher compared with the Prior Day settlement ($43-$48.52,
weighted average $47.89). March corn closed up nearly 3 cents. Much of this
week's firmer tone was supported by suggestions that China may be getting close
to making large U.S. ag purchases. The stock market ended a tough week with
another ugly close: the Dow settled off by as much as 474 points, and the
Nasdaq lost 219 points on news of a weaker-than-expected jobs report (only
155,000 position added in November), and China-U.S. trade tensions didn't help
calm nervous psychology.