DTN Closing Livestock Comment 10/26 16:26
26 Oct 2016
DTN Closing Livestock Comment 10/26 16:26 Cattle Futures Close With New Weekly Highs The cattle complex settled moderately higher, successfully extending the rally launched late last week. For the most part, lean hog issues finished moderately lower, checked by midweek profit-taking and position-evening. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: While the country trade was not tested Wednesday, the Fed Cattle Exchange reported higher live sales ranging from $103 to $105. Some feedlot managers circulated asking prices of $105-plus in the South and $165-plus in the North. According to the closing report, the national hog base is $0.51 lower compared with the Prior Day settlement ($42.50-$46.00, weighted average $44.80). The corn market popped 4 to 5 cents higher thanks to new enthusiasm from commercial buyers. U.S. stock closed mostly lower on Wednesday as earnings season continued. The Dow closed 30 points higher with the Nasdaq off 33.