DTN Closing Livestock Comment 10/24 16:21
24 Oct 2018
DTN Closing Livestock Comment 10/24 16:21 Live and Feeder Futures Continue to be Supported by Firming Carcass Value Lean hogs settled solidly higher, boosted by better wholesale demand and midweek short-covering. The cattle complex closed confidently higher tied to higher-trending beef cut-outs. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: The cash cattle trade really never left the ground with just an odd collection of bids and asking prices that never come close of real business process. A few showlists were priced around $180 in the North, far above bids around $174-$175. Some ready steers and heifers in the South were priced around $114-$115 in the South, though no regional bids have yet been identified. According to the closing report, the national hog base totaled $0.02 higher at $57.60 ($50-58.50). Corn futures slumped several cents lower, pressured by dry harvest conditions and significant dollar strength. Equities continued to tumble lower with the Dow off 608 points and the Nasdaq off by 329.