DTN Closing Livestock Comment 09/27 15:50
27 Sep 2017
DTN Closing Livestock Comment 09/27 15:50 Cattle Futures Stage Triple-Digit Recovery Most cattle contracts managed to recover at midweek with triple-digit gains, sparked by short-covering and a degree of cash optimism. Lean futures advanced at an uneven pace with Dec and Feb gaining on both spot October and the far deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS The cash cattle trade remained in neutral with both bids and asking prices only sketchily defined. A few token bids were noted in the South at $104, far below asking price suggestions near $110 to $112. According to the closing report, the national hog base is .16 lower ($43.00-48.50, weighted average $47.47). Corn futures settled generally 2 cents higher, further rocking back and forth in a narrow trading range. The stock market closed higher with the Dow up 56 points and the Nasdaq better by 73.