DTN Closing Livestock Comment 10/16 16:26
December Hogs Stage Bullish Debut as Spot Month
Nearby lean hog futures closed solidly higher, supported by short-covering
and stabilizing fundamentals. At the conclusion of a choppy session, cattle
contracts settled mostly lower.
By John Harrington
DTN Livestock Analyst
Feedlot country was typically quiet with Monday activity limited to the
distribution of new showlists. Ready numbers appear to be generally smaller
with only Kansas offering a few more marketable steer and heifers. According to
the closing report, the national hog base is .82 higher ($53.00-60.75, weighted
average $58.41). Corn futures closed 2-plus cents lower, pressured by forecasts
of better harvest weather. The Dow closed at a record higher (22,956), up 85
points. The Nasdaq settled 18 in the green.
For more free DTN information sent right to your email each morning - click here
to sign up for DTN Snapshot.