DTN Closing Livestock Comment 09/24 15:26
Cattle Markets Weaken on Strong Supply
Cattle futures traders worked the information from Friday's Cattle on Feed
report through most of the session. This left prices with triple-digit losses,
although volume remained moderate.
By Rick Kment
Cash cattle trade was undeveloped Monday, with activity limited to inventory
taking and showlist distribution that usually takes place early in the week.
Active bids and asking prices are not expected until midweek or later.
According to the closing report, the national hog base is $1.03 higher compared
with the prior day settlement ($53.00-$63.50) weighted average $60.53. Corn
futures are higher in light volume. September futures were 3 cents higher
Monday. Dow Jones Index is 149 points lower with Nasdaq up 4 points.
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