DTN Closing Livestock Comment 09/18 16:07
Feeder Cattle Futures Closed Significantly Higher
The cattle complex settled mostly higher with particular buying interest
noted in the feeder market. Lean hog issues closed on a mixed basis with
nearbys losing ground to deferreds.
By John Harrington
DTN Livestock Analyst
Early-week feedlot activity was typically limited to the distribution of new
showlists. The offering appears to be mixed -- larger in Texas and Colorado but
smaller in Kansas and Nebraska. Overall, ready steer and heifer numbers seemed
to be somewhat smaller than last week. According to the closing report, the
national hog base is .78 lower ($48.00-52.75, weighted average $52.13). Corn
futures closed generally 3 cents lower, pressured by a lack of buying interest
and the pending state of harvest. Equities closed higher with the DJIA setting
another record (i.e., 22,331, up 63 points). The Nasdaq finished 6 higher.
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