News & Resources

DTN Closing Livestock Comment 09/09 15:22

9 Sep 2019
DTN Closing Livestock Comment 09/09 15:22 Late-Day Selling Adds to Bearish Market Tone Late-day pressure across the livestock complex sparked concerns of follow-through weakness over the next couple of days. Live cattle futures eroded in limited, late-day pressure. Hog futures remain weak on growing fundamental concerns. By Rick Kment DTN Livestock Analyst GENERAL COMMENTS: October live cattle futures broke through long-term support, creating additional technical weakness in the already bearish market. Hog futures continued to tumble lower, with December falling below $60 per cwt for the first time in over two weeks. Corn prices posted narrow losses in light trade. December corn futures are 1 1/4 cents lower. Stock markets are mixed in light trade. Dow Jones is 40 points higher with NASDAQ down 28 points. Cash cattle activity remains undeveloped, which is typical for a Monday; tasks include inventory taking and showlist distribution. New showlists are mixed with fewer cattle offered in Texas and Kansas, while lists are longer in Nebraska and Colorado. It is unlikely asking prices and bids will develop early in the week. National Daily Direct afternoon hog report is $1.42 lower with a weighted average of $50.69 per cwt. Full range of $46.00 to $51.50 per cwt. Total volume reported is 15,036 head.