DTN Closing Livestock Comment 12/11 15:39
11 Dec 2018
DTN Closing Livestock Comment 12/11 15:39 Feeder Prices Surge Higher Tuesday Aggressive buyer support quickly flooded into feeder cattle futures Tuesday, sparking triple-digit gains in all contracts and expanded recent gains off of short-term lows. Follow-through buying developed across the livestock complex through the session. By Rick Kment DTN Analyst GENERAL COMMENTS: Cash cattle activity remains sluggish Tuesday with bids and asking prices not fully established at this point. It is expected to be Thursday or Friday before active trade develops, although packer interest should start to improve sometime Wednesday. A few asking prices have surfaced with cattle priced at $122 per cwt live basis. It is not certain that these asking prices will develop in other areas through the week, but levels in this range are likely. According to the closing report, the national hog base is $0.58 lower compared with the Prior Day settlement ($42.00-$47.89, weighted average $46.58).