DTN Closing Livestock Comment 10/26 17:07
26 Oct 2017
DTN Closing Livestock Comment 10/26 17:07 Nearby Live Cattle Contracts Surge Forward With Triple-Digit Gains The cattle complex closed sharply higher with live issues leading the bullish charge. While less flashy, lean hog issues also finished solidly higher with the help of residual buying interest and technical considerations. By John Harrington DTN Livestock Analyst GENERAL COMMENTS Cattle buying inquiry improved some Thursday, at least in terms of numbers of bids thrown on the table. Still, these token bids were never in any danger of provoking selling interest. For example, common live bids of $111 were at least $5 below most asking prices. According to the closing report, the national hog base is $0.42 lower ($59-$66.50, weighted average $65.14). Corn futures settled fractionally lower as traders pretty much ignored the threat of adverse harvest weather. Equities closed mixed with the Dow up 71 points and the Nasdaq off by 7.