DTN Closing Livestock Comment 10/31 15:44
Short-Covering Pushes Live Hog Futures at Week's Close
Live hog contracts finished significantly higher, supported by late-week
short-covering and hog/cattle spreading. The cattle complex finished mostly
lower with selling interest focused on nearby live contracts.
By John Harrington
DTN Livestock Analyst
From Friday to Friday livestock futures scored the following changes: Oct
LC, Up 1.25, Dec LC, Off .85; Nov FC, Off .50; Jan FC, Off .43; Dec LH, Off
2.23; Feb LH, Off .82. Light to moderate trade volume surfaced in feedlot
country today with most live and dressed sales $1 to $2 lower than last week
(i.e. $168 in the South; $263 to $265 in the North.) According to the closing
report, the Iowa hog base closed $0.4 lower compared with the Prior Day
settlement ($84.00-$86.75, weighted average $86.02). Corn futures closed
higher, up 2 3/4 in the December and up 2 1/4 in the March and May.
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