DTN Closing Livestock Comment 10/27 15:43
27 Oct 2017
DTN Closing Livestock Comment 10/27 15:43 Waiting for Cash News, Cattle Futures Close Late-Week Session With Mixed Prices Live and feeder cattle contracts settled on a mixed basis thanks to a combination of profit-taking and cash optimism. Lean hog issues settled moderately lower, primarily pressured by some bulls moving to take money off the table prior to the weekend break. By John Harrington DTN Livestock Analyst GENERAL COMMENTS As of 3:30 CDT Friday afternoon, the cash cattle trade remained unestablished. While live bids in the North had slowly improved, they remained at least $3 below asking prices (i.e., $116 plus). The bid/asking price spread in the South seemed even larger (i.e., $5 or more). We assume that buyers and sellers would still get together to some extent late Friday afternoon or early evening. According to the closing report, the national hog base is $0.63 lower ($58.50-$65.50, weighted average $64.41). Corn futures closed several cents lower, checked by harvest pressure in light volume. The stock market closed higher with the Dow up 33 points and the Nasdaq positive by 144.