DTN Closing Livestock Comment 10/02 16:29
2 Oct 2017
DTN Closing Livestock Comment 10/02 16:29 Hog Bulls Extend Post-Report Reaction Lean hog futures stormed higher again with triple-digit gains, impressively supported by short-covering and technical buying. On the other hand, the cattle complex settled sharply lower, pressured by long liquidation and cash worries. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Feedlot country was typically quiet as packers limited efforts to showlist assessment. Ready numbers are mixed, smaller in Nebraska, Colorado, and Kansas, but larger in Texas. Overall, the early month offering looks somewhat larger. According to the closing report, the national hog base is .03 lower ($42.00-50.00, weighted average $48.58). Corn futures closed 3-4 cents lower, checked by commercial selling and the approaching pressure of harvest in full stride. The stock market opened the last quarter of 2017 by closing significantly higher. The Dow surged by 152 points and the Nasdaq climbed 20.