DTN Closing Livestock Comment 10/16 19:51
16 Oct 2018
DTN Closing Livestock Comment 10/16 19:51 Cattle Futures Erode Tuesday Limited support was seen in livestock trade Tuesday afternoon with strong triple-digit losses seen in feeder cattle market. Early support in hog trade helped to stabilize price levels through the end of the day. By Rick Kment DTN Analyst GENERAL COMMENTS: Cash cattle markets started to show limited activity with light trade in the North. This is not enough to establish cash market activity with prices seen from $170 to $174 dressed basis. Additional bids and asking prices are expected to develop through midweek, although active trade may not be seen until Thursday or Friday. According to the closing report, the national hog base is $0.40 lower compared with the Prior Day settlement ($54-$63.25, weighted average $59.86). Corn futures are lower in light activity. December futures were 3 cents lower. Dow Jones Index is 547 points higher with Nasdaq up 214 points.