DTN Closing Livestock Comment 09/04 19:12
4 Sep 2018
DTN Closing Livestock Comment 09/04 19:12 Meat Futures Return From Holiday With Bullish Bias The cattle complex surged sharply higher, boosted by aggressive short-covering and technical-buying. Lean hog futures also stepped into the new month with friendly cash expectations bullish implications of ASF in China. By John Harrington DTN Livestock Analyst GENERAL COMMENTS The cash cattle trade was typically quiet as a new week began. The early month offering appears to be generally smaller than last week. Only Kansas is showing more ready steers and heifers. According to the closing report, the national hog base is $0.18 higher compared with the Prior Day settlement ($34-$38, weighted average $36.75). Corn futures settled 2-3 cents higher, supported by cases of excessive rainfall and flooding. The stock market closed with the Dow off 12 points and the Nasdaq down by 18.