DTN Closing Livestock Comment 10/23 16:24
23 Oct 2018
DTN Closing Livestock Comment 10/23 16:24 Cattle Futures Close Lower Thanks to Long Liquidation, Lackluster Buying Interest by Packers Live and feeder issues rolled back from Monday's advance, waiting for evidence of greater packer spending and stronger beef demand. On the other hand, lean hog futures moderately built on Monday's forward progress. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The feedlot cash cattle trade was not tested through the day with just a few starter bids noted in parts of the North at $174. According to the closing report, the national hog base is delayed due to packer submission problems. The corn trade closed about a penny higher thanks to a general lack of selling interest. The stock market closed lower with the Dow off 125 points and the Nasdaq down by 31.