DTN Closing Livestock Comment 10/13 15:56
13 Oct 2015
DTN Closing Livestock Comment 10/13 15:56 Live, Feeder Futures Close With Mixed Results The cattle complex settled with uneven price changes, moderately higher in spot contracts and mostly lower in deferreds. Lean hog issues closed higher with the December contract attracting most of the buying interest. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: There was more life on Mars Tuesday than in feedlot country. Neither buyers nor sellers showed any interest in doing business, cautiously watchful for predictive action in futures and the wholesale beef market. According to the closing report, the Iowa hog base is $0.99 higher compared with the Prior Day settlement ($69.00-$73.00, weighted average $72.58). Corn futures settled roughly 3 cents higher, benefiting from the updrafts running through the bean and wheat markets. U.S. stocks closed lower with traders a bit nervous in the face of more indications of slowdown in China's economy. The Dow closed 49 points lower with the Nasdaq off 42.