Headline News

DTN Closing Livestock Comment 09/20 15:33
   Triple-Digit Gains Flooded Through Cattle Markets Midweek

   Buyer support quickly broke loose through the second half of the trading
session Wednesday. This led to strong triple-digit gains seen in live cattle
and feeder cattle markets. Even though neither market posted limit gains at
closing bell, the market in some nearby contracts came within pennies per cwt
of trading limits.

By Rick Kment
DTN Livestock Analyst


   Cash cattle trade in feedlot country remains quiet at this point Wednesday
afternoon. But active bids have developed through the day with live bids seen
at $104 per cwt while dressed bids are at $165 per cwt. Packer interest still
remains light given the overall outside market support. Asking prices have
firmed through the day due to the sharp gains in futures prices. Live cattle
are showing asking prices of $110 to $111 per cwt, while dressed asking prices
are much less defined, but expected to be seen from $172 to $175 per cwt. The
Fed Cattle Exchange Auction report today listed a total of 1,450 head, with 636
actually sold, 440 head listed as unsold and 374 head listed as PO. The state
by state breakdown looks like this: KS 608 total head, with 382 head sold at
$106.50-$106.75, 0 head unsold, 226 head listed as PO ($106.00); NE 300 total
head, with 0 head sold, 300 head unsold, and 0 head listed as PO; TX 542 total
head, with 254 head sold at $106.75, 140 head unsold, and 148 head listed as PO
($106.50); CO no cattle listed; IA no cattle listed; other states no cattle
listed. The delivery date/weighted averages breakdown is as listed: 1-9 day
delivery: 1,150 head total, 636 head sold, with a weighted average price of
$106.67; 1-17 day delivery 97 head total, no sales; 10-17 day delivery 0 head
total; 17-30 day delivery 203 head total, no sales. According to the closing
report, the national hog base is $0.90 lower compared with the Prior Day
settlement ($45.50-$52.00) weighted average $51.75.The corn futures moved
higher in light activity. December futures were 2 cents higher Wednesday. The
Dow Jones Index is 26 points higher with the Nasdaq down 6 points.