DTN Closing Livestock Comment 10/16 19:51
Cattle Futures Erode Tuesday
Limited support was seen in livestock trade Tuesday afternoon with strong
triple-digit losses seen in feeder cattle market. Early support in hog trade
helped to stabilize price levels through the end of the day.
By Rick Kment
Cash cattle markets started to show limited activity with light trade in the
North. This is not enough to establish cash market activity with prices seen
from $170 to $174 dressed basis. Additional bids and asking prices are expected
to develop through midweek, although active trade may not be seen until
Thursday or Friday. According to the closing report, the national hog base is
$0.40 lower compared with the Prior Day settlement ($54-$63.25, weighted
average $59.86). Corn futures are lower in light activity. December futures
were 3 cents lower. Dow Jones Index is 547 points higher with Nasdaq up 214
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