Printable Page Market News   Return to Menu - Page 2 3 4 5 6 7 8 9 10
DTN Closing Livestock Comment 10/18 16:13
   Volatility in Feeder Cattle Redevelops Monday

   Active pressure in feeder cattle futures Monday led to weakness throughout
the cattle trade. November feeder cattle futures were unable to find support at
any point Monday, falling $2.07 per cwt by closing bell. This may lead to some
market retractions over the next couple of days. Lean hog futures shifted
higher, but momentum seems limited as traders still are uncertain of long-term
pork demand growth.

By Rick Kment, DTN Contributing Analyst


   Limited market movements developed in live cattle and lean hog futures
Monday as traders continue to slowly adjust to recent market shifts through the
complex. Live cattle futures posted moderate losses of 40 to 55 cents per cwt
as prices have backed away from six-week highs as traders try to focus on the
potential for additional short-term market moves and the direction of cash
trade through the next week. Lean hog futures have moved higher following
late-week support Friday. The expectation in hog trade is that short-term price
support may be in place, allowing traders to focus on potential support through
the rest of October. Feeder cattle trade was the most volatile Monday with
triple-digit losses sweeping through the complex, creating concerns that
further weakness may soon develop surrounding this Friday's Cattle on Feed
report. Hog prices moved lower on the National Direct Afternoon Hog Report in
moderate trade, falling $0.09 with a weighted average of $67.24 on 8,354 head.
December corn is up 7 cents per bushel and December soybean meal is up $1.30
per ton. The Dow Jones Industrial Average is down 36 points, and the NASDAQ is
up 124 points.
No other Daily email offers as much useful Ag information as DTN Snapshot – Sign up Free today!
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN