DTN Livestock Close: Cattle Settle on Mixed Basis

The cattle complex closed unevenly with nearbys gaining on deferreds. Lean hog futures finished mostly lower with only spot October posting a modest advance.

GENERAL COMMENTS:

Moderate trade volume developed in most areas of cattle country Thursday with live sales in the South marked at $111 (about steady with last week). On the other hand, dressed trade volume in the North surfaced at $173-$174, $1-$2 lower than last week’s weighted average basis Nebraska.

According to the closing report, the national hog base is $0.73 lower compared with the Prior Day settlement ($57-$63.42, weighted average $61.92).

December corn closed up 6 1/2 cents at $3.69 1/4 Thursday, helped by USDA’s lower-than-expected estimate of 1.813 billion bushels of U.S. ending corn stocks for 2018-19, down from 2.14 bb last year. The stock market continued to implode with the Dow losing another 545 points. The Nasdaq crashed by 92.

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