DTN Closing Livestock Comment 10/22 19:39
Meat Futures Relaunch Buying Spree Into Last Third of October
Triple-digit surge characterizes cattle futures as new week begins,
supported by cash strength and carcass value vigor. Lean hog issues settled
solidly higher with the help of improving pork demand.
By John Harrington
DTN Livestock Analyst
The cash cattle arena was typically slow for a Monday with the distribution
of new showlists the major order of the day. The new fed offering is larger in
Texas and Kansas, about steady in Colorado and some smaller in Nebraska.
According to the midday report, the national hog base is $0.59 lower compared
with the Prior Day settlement ($51-$58.90, weighted average $58.09). Corn
futures closed several cents higher thanks to drier weather and more
constructive harvest conditions. The Dow closed 127 lower with the Nasdaq up
For more free DTN information sent right to your email each morning - click here
to sign up for DTN Snapshot.