DTN Closing Livestock Comment 09/18 15:42
18 Sep 2018
DTN Closing Livestock Comment 09/18 15:42 Hog Futures Rally Strong support exploded in nearby lean hog futures early Tuesday morning with October futures sparking additional underlying support in all lean hog contracts. Cattle futures were under limited pressure as traders continue to protect late-week gains. By Rick Kment DTN Analyst GENERAL COMMENTS: Cash cattle activity remained sluggish Tuesday afternoon with bids and asking prices undeveloped. It is likely cash trade will not become active until midweek or later. Even though cash trade remained sluggish last week, formulated sales increased. Generally, showlists seen Monday are mixed to mostly larger than the previous week. According to the closing report, the national hog base is $2.26 higher compared with the prior day settlement ($44.00 to $56.50) weighted average $52.92. Corn futures are lower in light activity. September futures were 4 3/4 cents lower Tuesday. Dow Jones Index is 215 points higher with Nasdaq up 69 points.