DTN Closing Livestock Comment 10/24 16:10
24 Oct 2016
DTN Closing Livestock Comment 10/24 16:10 Cattle Futures Surge Back to Life Live and feeder futures gapped higher on the opening and just kept getting better through the trading session. Lean hog contracts also launched the new business week with solid gains, supported by the premium status of the cash index and spillover enthusiasm from the cattle complex. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Activity in cattle feeding country was typically limited to the distribution of new showlists. Ready numbers appear to be generally larger, especially in Nebraska. According to the closing report, the national hog base is .05 higher compared with the Prior Day settlement ($42.00-46.50, weighted average $45.27). The corn market slipped about 4 cents lower, pressured by decent harvest weather and progress. U.S. equities closed higher, supported in part by big merger news. Dow settled 77 points higher with the Nasdaq advancing 52.