DTN Closing Livestock Comment 09/14 16:12
14 Sep 2015
DTN Closing Livestock Comment 09/14 16:12 Cattle Futures Settle Start to New Week Mostly Higher The cattle complex closed mostly higher with live issues generally gaining on their feeder counterparts. The lean hog trade settled on a mixed basis with nearby issues lower and deferreds mostly higher. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Activity in feedlot country was naturally limited to the distribution of new showlists. The mid-month offering appears to be generally smaller with only Colorado showing more ready steers and heifers. Asking prices are poorly defined with just a few suggestions around $143-$145 noted in parts of the South. According to the closing report, the Iowa hog base is $0.31 higher compared with the Prior Day settlement ($64.00-$67.00, weighted average $66.44). Corn futures closed 4-6 cents higher, supported by commercial buying and residual bullishness from Friday's rally. Equities closed lower as investors seemed cautioned by negative stock performance overseas and the Federal Reserve meeting later in the week. The Dow closed 62 points lower with the Nasdaq off 16.