DTN Closing Livestock Comment 09/29 16:28
29 Sep 2015
DTN Closing Livestock Comment 09/29 16:28 Beef Futures Resume Bearish Freefall The cattle complex crashed to new lows Tuesday with the majority of contracts suffering triple-digit losses. Lean hog issues scored impressive progress with nearby issues advancing by triple digits. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The cash cattle trade was a non-event Tuesday with only slight glimpses of initial bids and asking prices. According to the closing report, the Iowa hog base is $1.19 higher compared with the Prior Day settlement ($63.00-$72.00, weighted average $71.02). Corn futures closed 1-2 cents higher, modestly supported by positioning ahead of the quarterly stocks report due out Wednesday. U.S. stocks closed mixed, attempting to stabilize after a sharp sell-off. The Dow closed 47 points higher with the Nasdaq off 26.