DTN Closing Livestock Comment 10/18 16:14
18 Oct 2016
DTN Closing Livestock Comment 10/18 16:14 Lean Hog Futures Extend Losses Tuesday, Setting New Contract Lows Live cattle futures closed Monday, down 7 to up 65. Feeder contracts were also mixed down 62 to up 80. Lean hog futures closed lower, down 47 to 162. By Rick Kment DTN Analyst GENERAL COMMENTS: Livestock futures traded in a moderate range Tuesday as buyer support developed through cattle contracts based on follow-through support seen early in the week. Additional pressure developed in lean hog contracts, pushing spot month December contracts to new contract lows.According to the closing report, the national hog base is $0.20 higher compared with the Prior Day settlement ($43.00 to 47.50, weighted average $46.07).Corn futures closed steady to fractionally lower, with nearby contracts falling 1/4 to 1/2 cent per bushel while deferred contracts remaining steady.