DTN Closing Livestock Comment 09/19 15:40
Sluggish Trade Leaves Prices Mixed
Limited activity developed in all livestock trade Wednesday with very little
market direction seen. Cattle markets were contained to narrow market moves as
traders tried to establish short- and long-term direction.
By Rick Kment
DTN Analyst
GENERAL COMMENTS:
Cash cattle interest remains extremely sluggish through midweek with a few
token live bids developing in the South at $108 per hundredweight (cwt). This
is well below asking prices of $113 to $114 live and $180 and higher dressed.
Significant business may be delayed until after the Cattle on Feed report
Friday. According to the closing report, the national hog base is $3.15 higher
compared with the Prior Day settlement ($45-$59, weighted average $56.21). Corn
futures are higher in light activity. September futures were 2 1/2 cents higher
Wednesday. The Dow Jones Index is 172 points higher with the Nasdaq down 8
points.
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