DTN Closing Livestock Comment 10/05 15:28
5 Oct 2018
DTN Closing Livestock Comment 10/05 15:28 Livestock Markets Rally Friday Sharp gains quickly flooded into lean hog futures trade during late-week trade. This pushed most hog futures to triple-digit gains as buyers rebounded from previous pressure. By Rick Kment DTN Analyst GENERAL COMMENTS: From Friday to Friday, livestock futures scored the following changes: Oct LC, up $0.35; Dec LC, off $0.70; Oct FC, off $0.40; Nov FC, up $0.17; Oct LH, up $6.03; Dec LH, off $0.37. Cash cattle trade is in the middle of a standoff that could last until late afternoon, early evening. A few additional bids have developed at $111 live and $175 dressed. But this is not enough to allow feeders to let go of cattle. Asking prices on live cattle remain at $113 to $114 and $178 dressed. According to the closing report, the national hog base is $0.40 higher compared with the prior day settlement ($58.50-$65.25) weighted average $63.63. Corn futures are higher in light activity. December futures were 3/4 cent higher. Dow Jones Index is 178 points lower with Nasdaq down 76 points.