DTN Closing Livestock Comment 10/19 20:00
19 Oct 2018
DTN Closing Livestock Comment 10/19 20:00 Livestock Futures Close in Red Thanks to General Lack of Late-Week Buying Interest Bears kept pounding on the lean hog futures thanks to the overwhelming reality of large numbers of ready barrows and gilts. The cattle complex settled moderately lower linked to a lack of constructive fundamentals. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The cash cattle market was poorly tested with Southern feedlot managers continuing to reject bids of $111. According to the midday report, the national hog base was $0.44 higher compared with the Prior Day settlement ($52-$59.37, weighted average $66.08). Corn futures settled 3-4 cents lower, checked in part by canceled buying interest from China. Wall Street closed mixed with the Dow up 64 points and the Nasdaq negative by 38. From Friday to Friday, livestock futures scored the following changes: Oct LC, off $0.07; Dec LC, up $0.60; Oct FC, off $0.05; Nov FC, off $0.52; Dec LH, off $3.40; Feb LH, off $3.20.