DTN Livestock Close: Prices Surge on Late-Day Support

Photo: Blair Fannin, Texas AgriLife Extension

Strong late-day buyer support moved into live cattle futures, which helped to offset active pressure seen through most of the session. Triple-digit gains in hog futures are helping to spark renewed underlying trade activity.

GENERAL COMMENTS:

Cash cattle markets are undeveloped Monday afternoon with asking prices and bids unavailable at this point. This is what is typically expected for a Monday, as traders focus on active trade being delayed until the second half of the week. Showlists for the week appear to be mixed with larger offerings seen in Nebraska offsetting lower numbers in Kansas. Texas and Colorado are generally steady with last week.

According to the closing report, the national hog base is $1.07 lower compared with the Prior Day settlement ($55.00-$61.40, weighted average $60.33).

Corn futures were higher in light activity with the December contract closing 4 1/2 cents higher. The Dow Jones Index was 2 points lower with Nasdaq down 43 points.

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