DTN Closing Livestock Comment 11/01 17:49

DTN Closing Livestock Comment 11/01 17:49 Cattle Futures Settle Moderately Lower as Traders Wait for Sound Evidence of Cash News With the modest exception of new spot November feeders, cattle futures closed moderately higher with both sides waiting for meaningful cash business to develop. Lean hog issues closed on a mixed basis with nearby issues losing ground to 2019 deferreds. By John Harrington DTN Livestock Analyst GENERAL COMMENTS: Once again, the cash cattle trade was limited to an odd assortment of bids and asking prices that didn't match up in terms of significant trade volume. Dressed bids of $180 in the North fell short of asking prices of $185 plus. Similarly, bids of $112-$114 in the South fell short of area asking prices of $117-$118. According to the closing report, the national hog base totaled $0.24 higher at $58.23 ($52-$60). The corn trade popped about 3 cents higher, hiked by a presidential tweet suggesting that real progress was being made in resolving the trade war with China. The stock market rebounded for the third consecutive round with the Dow closing 264 points higher and the Nasdaq finishing 128 in the green.