DTN Closing Livestock Comment 07/26 15:46

DTN Closing Livestock Comment 07/26 15:46 Late Day Buying Supports Live Cattle Strong buyer support quickly moved into live cattle futures in the final minutes of trade Wednesday. This helped to push front month futures to triple-digit gains, despite moderate pressure through much of the session. Cash cattle activity is starting to develop during the day Wednesday with prices $2-$3 per cwt lower than last week. By Rick Kment DTN Analyst GENERAL COMMENTS Cash cattle trade has started to develop Wednesday afternoon, with light trade seen in the South at $117 per cwt. This is $3 per cwt lower than last week. Trade is also seen in the North with live trade seen at $117 per cwt and dressed trade at $188 per cwt. Both prices are generally $2 per cwt lower than last week's price levels. Bids are also seen at $117 on a live basis and $186 to $187 dressed in other areas where sales have not yet been reported. Asking prices remain at $120 in the South and $192 through the North. Activity on the Fed Cattle Exchange Auction report Wednesday listed a total of 2,119 head, with 772 actually sold, 944 head listed as unsold and 403 listed as PO. The weighted average was $117.68. The state-by-state breakdown looks like this: KS 378 total head, with 130 head sold at $117.50, 105 head unsold, 143 head listed as PO ($117.75); NE 962 total head, with 369 head sold at $117.50-$117.75, 593 head unsold, and 0 listed as PO; TX 554 total head, with 235 head sold at $117.75, 112 head unsold, and 207 head listed as PO ($117.75); CO 134 total head, with 0 head sold, 134 head unsold; IA no test; other states (OK,SD,) 91 total head, with 38 head sold (SD) at $118.25, 0 head unsold, and 53 head (OK) listed as PO ($117.00). The delivery date/weighted average breakdown is as listed: 1-9 day delivery: 1,372 head total, 403 head sold with a weighted average price of $117.72; 1-17 day delivery 600 head total, 369 head sold with a weighted average price of $117.63; 10-17 day delivery 147 head total, with no sales; 17-30 day delivery, none. According to the closing report, the national hog base is $0.32 lower compared with the Prior Day settlement ($77.00-$83.00) weighted average $81.75. The corn futures moved higher in light activity. September futures were 4 cents higher Wednesday. The Dow Jones Index is 82 points higher with the Nasdaq up 7 points.