DTN Closing Livestock Comment 10/01 15:26
1 Oct 2018
DTN Closing Livestock Comment 10/01 15:26 Hog Futures Extend Sharp Gains Sharp gains have continued to develop in lean hog futures. This consecutive triple-digit rally in lean hog futures may spark additional long-term support later in the week. By Rick Kment DTN Analyst GENERAL COMMENTS: Early week movement in the cash cattle complex remains undeveloped. There is growing uncertainty through the cash market that trade will be active before the last half of the week as bids and asking prices are not expected to be fully developed until midweek or later. According to the closing report, the national hog base is $0.05 lower compared with the Prior Day settlement ($58.50 to $64.00) weighted average $63.05. Corn futures are higher in light activity. December futures were 9 1/2 cent higher. Dow Jones Index is 191 points higher with Nasdaq down 9 points.