DTN Livestock Close: Price Weakness Develops

©Debra L Ferguson Stock Photography

Light-to-moderate pressure was seen in all livestock trade Tuesday as traders remain unable or unwilling to step back into the complex. Limited new information left traders focused on sluggish market activity and further price pressure.

GENERAL COMMENTS

Cash cattle markets are generally quiet with very limited movement through the day Tuesday. There have been a few token bids develop late Tuesday afternoon in the North with bids at $168 to $170 per hundredweight (cwt). At this point, there is no interest shown in the South, and asking prices are quiet in all areas. Packers are expected to become more active through the day Wednesday, but actual sales may still be delayed until late in the week.

According to the closing report, the national hog base is $2.64 higher compared with the Prior Day settlement ($40-$48.50, weighted average $45.73).

Corn futures are lower in light activity. September futures were 1/4 cent Lower Tuesday. Dow Jones Index is 139 points higher with Nasdaq up 45 points.

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