DTN Livestock Close: Feeder Futures Supported by Lower Corn Action

The cattle complex settled on a mixed basis in the live trade and mostly higher in the feeder market. Conversely, lean hog issues were once again slammed lower thanks to seasonally defensive fundamentals.

GENERAL COMMENTS:

The cash cattle business never really got off the ground Thursday. Trade volume in the North appears to be essentially done for the week. Although Southern live bids increased from $109 to $111, asking prices of $113-114 prevented significant biz from surfacing in Texas and Kansas. Look for Southern trade volume to develop on Friday.

According to the closing report, the national hog base is $0.08 lower compared with the Prior Day settlement ($53-$59.50, weighted average, $59.16).

Corn futures finished mostly 3 cents lower, checked by disappointing export sales. The stock market took another tumble with the Dow off 326 points and the Nasdaq down by 157.

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