Wolverton 218-995-2565 / Comstock 218-585-4616 / Agronomy 218-585-4151

Thursday, October 17, 2019  
Weather |  Quotes |  Futures Markets |  Grain |  DTN Ag Headlines |  Charts |  Markets Page |  Market News |  Portfolio |  Headline News 
 Agronomy Updates
 About Us
 Contact Us
 Ag Links
 Members Only
 Manager's Comments
 Plot Tour
 Bushel Portal
Printable Page Market News   Return to Menu - Page 2 3 4 5 6 7 8 9 10
DTN Early Word Opening Livestock       10/16 06:17
   Focus on Pork Demand Continues Wednesday

   Limit gains in lean hog trade Tuesday is creating expectations of
follow-through support based on reported Chinese buying activity. Underlying
bullish support will hold in cattle futures through mid-October.

By Rick Kment
DTN Livestock Analyst

Cattle: Steady to Higher   Futures: Higher   Live Equiv: $139.48 +0.75*
Hogs:   Higher             Futures: Higher   Lean Equiv: $ 82.83 +0.12**

*   based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue


   Packer interest is expected to improve through the day Wednesday, although
the overall lack of consistent asking prices through all cattle country will
likely keep trade from developing too quickly this week. Asking prices in the
North are holding at $115 live and $180 per cwt dressed in Nebraska, while
feeders have yet to float asking prices in the hopes that there will be
confirmation to suggest strong support through the end of the week. When
initial bids do develop, it is expected these will be well below asking prices,
and will potentially push active trade to the end of the week. Firm support is
expected to hold in cattle futures with the focus on December contracts testing
short-term highs once again following the steady-but-firm buyer support moving
back into the complex. With nearby contracts holding well above both 40- and
100-day moving averages since the end of September, renewed commercial support
is building as well as the potential to spark investment interest, which has
remained out of the market the last several weeks. Wednesday slaughter runs are
expected at 117,000 head.
Get your local Cash Bids emailed to you each morning from DTN – click here to sign up for DTN Snapshot.
Copyright DTN. All rights reserved. Disclaimer.
Powered By DTN