DTN Closing Livestock Comments

GENERAL COMMENTS:

The cash cattle trade was limited to the distribution of new showlists. Ready numbers appear to be about steady with last week. According to the closing report, the national hog base is $.09 lower ($63.00 to $71.00), weighted average $78.93). December corn faltered by 1 to 2 cents, oblivious to the impact of heavy rains. The stock marlet closed on a mixed basis with the Dow up 39 points and the Nasdaq down by 52.

LIVE CATTLE:

Live issues closed generally higher thanks to short covering and cash optimism. Beef cut-outs: lower, ($203.21, choice, off $.04) to (select, $191.81, up $.07) with moderate demand and offerings (51 loads of choice cuts, 34 loads of select cuts, 11 loads of trimmings, 13 loads of ground beef).

TUESDAY'S CASH CATTLE CALL:

Bids and asking prices should remain poorly defined in the morning, with significantly trade volume probably delayed until he second half of the week.

FEEDER CATTLE:

Feeder paper cautiously followed live issues higher with traders carefully monitoring the potential of deferredd live potential. On an estimated run of 5,600 head (down from 9,614. last week and near even with 2017), Oklahoma City sold feeder steers and heifers $3 to $5 lower. CME cash feeder index: 10/05: $158.15, off $.03.

LEAN HOGS:

Lean futures closed steady to 70 higher with deferredds gaining on nearbys. Carcass value closed moderately lower, pressured by bellies, ribs and picnics. Pork cut-out: $78.93, up $.63. CME cash lean index for 10/04: 69.31, up $05 (DTN Projected lean index for 10/05: $69.36, up $.05).

TUESDAY'S CASH HOG CALL:

Steady. Hog buyers are expected to open with near steady bids in the morning.

John Harrington can be reached at harringtonsfotm@gmail.com

Follow him on Twitter @feelofthemarket

(BE)

Copyright 2018 DTN/The Progressive Farmer. All rights reserved.