DTN Closing Livestock Comment 10/04 15:35

DTN Closing Livestock Comment 10/04 15:35 Pressure Continues Thursday Strong follow-through pressure developed Thursday afternoon in lean hog and feeder cattle futures as traders focused on additional market liquidation. Firming cash cattle activity is starting to develop, potentially sparking late-week interest early Friday. By Rick Kment DTN Analyst GENERAL COMMENTS: Cash cattle bids became active Thursday, leading to some limited trade at $175 per cwt dressed basis and $110 live in the North. This is steady to $1 per cwt higher than last week, and may set the tone for firmer prices. Bids are from $108 to $111.50 per cwt live basis with the higher end of the scale in the North. Dressed bids are around $175 per cwt. Southern trade will not likely start until Friday, and it is uncertain how much additional Northern trade will trickle in through late afternoon and evening Thursday. Asking prices on live cattle in the South remain at $113 to $114. According to the closing report, the national hog base is $0.11 lower compared with the prior day settlement ($58.50-$65.00) weighted average $63.30. Corn futures are higher in light activity. December futures were 2 3/4 cents higher. Dow Jones Index is 252 points lower with Nasdaq down 161 points.