DTN Closing Livestock Comment 10/22 19:39
22 Oct 2018
DTN Closing Livestock Comment 10/22 19:39 Meat Futures Relaunch Buying Spree Into Last Third of October Triple-digit surge characterizes cattle futures as new week begins, supported by cash strength and carcass value vigor. Lean hog issues settled solidly higher with the help of improving pork demand. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The cash cattle arena was typically slow for a Monday with the distribution of new showlists the major order of the day. The new fed offering is larger in Texas and Kansas, about steady in Colorado and some smaller in Nebraska. According to the midday report, the national hog base is $0.59 lower compared with the Prior Day settlement ($51-$58.90, weighted average $58.09). Corn futures closed several cents higher thanks to drier weather and more constructive harvest conditions. The Dow closed 127 lower with the Nasdaq up 19.