DTN Closing Livestock Comment 10/07 16:02
7 Oct 2016
DTN Closing Livestock Comment 10/07 16:02 Lean Hog Futures Close Moderately Higher Thanks to Late-Week Short-Covering Hog futures closed mostly higher to conclude the week, supported in the late rounds by short-covering and post-report profit-taking. The cattle complex settled on a mixed basis in light trade volume. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: From Friday to Friday livestock futures scored the following Changes: Oct LC, Up $2.97; Dec LC, Up $2.93; Oct FC, Up $4.47; Nov FC, Up $3.12, Oct LH, Up $1.65, Dec LH, Off $1.37. The cash cattle trade was not tested Friday. Apparently buyers and sellers felt satisfied with trade volume generated on Wednesday and Thursday. Week to date trade volume totals look adequate in the North but generally short in the South. According to the closing report, the national hog base is $0.04 higher compared with the Prior Day settlement ($43.00-$47.50, weighted average $46.36). Corn futures closed slightly lower, down 3/4 in the December, March and May contracts.