DTN Closing Livestock Comment 09/17 15:27
Volatile Tuesday Across Livestock Contracts
Lean hog contracts displayed a classic turnaround Tuesday with triple-digit
losses giving back Monday's triple-digit gains. Feeder cattle also had a
volatile day, with the October contract up $3.10. October live cattle futures
remain under $100 per cwt.
By Elaine Kub
DTN Contributing Analyst
No bids or asking prices are established yet this week in the cash cattle
market, but whatever volume may develop on Wednesday will be benchmarked
against last week's numbers: Southern live trade at $99 to $100 and Northern
dressed business mostly $159 to $160. According to the closing report, the
national hog base was $0.38 lower (weighted average $45.39). Corn futures
closed 6 cents per bushel lower alongside the geopolitical uncertainty and
volatile pullback in crude oil (down $3.85 per barrel). The stock market gained
4 points in the S&P 500, and the index has inched back above 3,000.
Get your local Cash Bids emailed to you each morning from DTN – click here to sign up for DTN Snapshot.