DTN Closing Livestock Comment 10/01 16:21
1 Oct 2015
DTN Closing Livestock Comment 10/01 16:21 Massive Cattle Sell-Off Continues Once again, live and feeder cattle contracts closed sharply lower pressured by aggressive long liquidation and a general lack of buying interest. Lean hog contracts also closed significantly lower, especially in nearby issues. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The cash cattle market was very slow despite the fact that short-bought packers seem to need inventory. A few packages reported sold in Kansas at $120 -- $4 lower than Wednesday and $10 lower than a week ago. According to the closing report, the Iowa hog base is $1.27 lower compared with the Prior Day settlement ($62.00-$73.50, weighted average $71.11). Corn futures closed down 1 cent in the December contact and unchanged in the July.