GENERAL COMMENTS:
The cash cattle trade was limited to the
distribution of new showlists. Ready numbers appear to be about steady
with last week. According to the closing report, the national hog base
is $.09 lower ($63.00 to $71.00), weighted average $78.93). December
corn faltered by 1 to 2 cents, oblivious to the impact of heavy rains.
The stock marlet closed on a mixed basis with the Dow up 39 points and
the Nasdaq down by 52.
LIVE CATTLE:
Live issues closed generally higher thanks to
short covering and cash optimism. Beef cut-outs: lower, ($203.21,
choice, off $.04) to (select, $191.81, up $.07) with moderate demand and
offerings (51 loads of choice cuts, 34 loads of select cuts, 11 loads
of trimmings, 13 loads of ground beef).
TUESDAY'S CASH CATTLE CALL:
Bids and asking prices should remain poorly
defined in the morning, with significantly trade volume probably delayed
until he second half of the week.
FEEDER CATTLE:
Feeder paper cautiously followed live issues
higher with traders carefully monitoring the potential of deferredd live
potential. On an estimated run of 5,600 head (down from 9,614. last
week and near even with 2017), Oklahoma City sold feeder steers and
heifers $3 to $5 lower. CME cash feeder index: 10/05: $158.15, off $.03.
LEAN HOGS:
Lean futures closed steady to 70 higher with
deferredds gaining on nearbys. Carcass value closed moderately lower,
pressured by bellies, ribs and picnics. Pork cut-out: $78.93, up $.63.
CME cash lean index for 10/04: 69.31, up $05 (DTN Projected lean index
for 10/05: $69.36, up $.05).
TUESDAY'S CASH HOG CALL:
Steady. Hog buyers are expected to open with near steady bids in the morning.
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