DTN Closing Livestock Comment 10/09 15:45
9 Oct 2015
DTN Closing Livestock Comment 10/09 15:45 Cattle Futures Close Mostly Higher, Supported by Better Cash Prospects The cattle complex settled mostly higher with feeders gaining on their live counterparts. On the other hand, late-week profit-taking caused lean hog issues to settle modestly lower. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: From Friday to Friday livestock futures scored the following Changes: Oct LC, Up $7.70; Dec LC, Up $5.95; Oct FC, Up $9.47; Nov FC, Up $10.35, Oct LH, Up $0.47 Dec LH, Up $0.75. At long last, cash cattle traders managed to pull out of a month-long nosedive. Light to moderate sales were reported in most areas with live business mostly $9 to $10 higher (i.e. $126 to $127). Dressed business in the North ranged from $195 to $197, generally $8 to $10 higher than last week's weighted average basis Nebraska. According to the closing report, the Iowa hog base is $0.39 lower compared with the Prior Day settlement ($67.00-$73.00, weighted average $71.72). Corn futures closed down 8 1/2 cents in the December and down 7 3/4 cents in the July.