DTN Closing Livestock Comment 09/16 15:33
Cattle Complex Finishes With Mixed Prices
The cattle futures settled moderately lower in the live pit and mixed in the
feeder market. Lean hog contracts also failed to demonstrate consistent price
direction on the close, though nearbys generally outperformed deferreds.
By John Harrington
DTN Livestock Analyst
The cash cattle trade was a typical no-show Tuesday, poorly defined by the
general absence of packer bids and only sketchy ideas of asking prices. A few
showlists were priced around $162 in the South and $253-$255 in the North.
According to the closing report, the Iowa hog base $0.92 higher compared with
the Prior Day settlement ($89.00-$105.50, weighted average $104.66). Corn
futures closed fractionally higher for the most part, modestly lifted by
late-session short covering. Equities jumped on Tuesday, supported in parts on
ideas that the Federal Reserve would not rush to hike rates. The Dow closed 100
points higher with the Nasdaq better by 33.
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