DTN Closing Livestock Comment 11/15 16:04
For the Most Part, Livestock Futures Close Moderately Higher
Most cattle issues settled moderately higher as the cash waiting game
continued. Lean hog contracts also finished primarily in the green with 2019
issues leaping ahead of nearbys.
By John Harrington
DTN Livestock Analyst
The cash cattle trade saw some improvement in bids through the day, but
certainly not enough to tempt higher asking prices. Southern buyers reached as
high as $110-$113, but well short of asking prices around $116-$117. Some
dressed bids in the North were clocked as high as $176, but still far shy of
askings near $178-$180. According to the closing report, the national hog base
is $0.30 higher compared with the Prior Day settlement ($46-$52.44, weighted
average $52.65). Corn futures settled fractionally higher, supported by higher
bean prices and signs of encouraging U.S.-China trade talks ahead of the G-20
meeting in Buenos Aires. Wall Street bounced higher with the Dow recovering by
208 points and the Nasdaq improving by 1.
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