DTN Closing Livestock Comment 10/19 16:41
Meat Futures Settle With Mixed Prices
The cattle complex closed mixed in the live market and solidly higher in the
feeder trader. Lean hog futures also finished with uneven results, though
nearby issues outperformed deferreds.
By John Harrington
DTN Livestock Analyst
The fed cattle trade remained at a standstill through the day with bids and
asking prices separated by $2-$3 on a live basis (i.e., $109-$110 bids in the
face of $112-$113 asking prices). According to the closing report, the national
hog base is $1.02 higher ($56.00-$65.50, weighted average $63.42). Corn futures
closed fractionally higher in listless trade volume. The stock market closed
with the Dow up 5 points (and setting another new record) and the Nasdaq off 19.
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