DTN Closing Livestock Comment 10/27 15:52

DTN Closing Livestock Comment 10/27 15:52 Cattle Futures Record Impressive Gains Late week gains developed in all livestock trade Friday with Live cattle futures leading the upward market shift as nearby contracts posted gains of $2 per cwt or higher. Feeder cattle contracts seemed to be less optimistic, but still reported end-of-the-week support as traders look to rebuild from recent market lows. Lean hog futures also continued buyer support Friday. Rick Kment DTN Analyst GENERAL COMMENTS: From Friday to Friday livestock futures scored the following changes: October Live cattle off $0.28, December Live cattle off $2.40; November Feeder cattle off $4.92, January Feeder cattle off $7.35; December Lean hogs up $4.48, December Lean hogs up $4.48; December Pork cutout up $2.85, December Pork cutout up $2.85. Live cattle futures led the complex higher with nearby contracts holding gains at or above $3 per cwt through much of the session. Limited trade volume at the end of the session seemed to slightly erode bullish market activity, although December contracts still posted a $2.90 per cwt gain at the closing bell. The bearish cloud that has hovered over the cattle complex all week seems to have been partially lifted, allowing buyers who have been waiting on the sidelines to actively move back into the market Friday. Feeder cattle futures posted moderate gains but are much less aggressive at this point. Triple-digit gains in lean hog futures not only helped to rekindle market support, but also created consistent buying interest through the last three trading sessions. Hog prices closed lower on the Daily Direct Afternoon hog report, down $0.63 with a weighted average of $70.07 on 3,665 hogs. December corn closed up 1 1/2 at $4.808 and December soybean meal closed up $12.90 at $442.4. The Dow Jones Industrial Average is down 366.71 at 32,417.59.