DTN Closing Livestock Comment 10/13 15:52
Traders Push Livestock Contracts Higher
It was another day of strong gains for the livestock contracts, as all three
markets closed higher.
ShayLe Stewart
DTN Livestock Analyst
It was another grand day for the live cattle complex as the market
successfully rounded out the day stronger, closing at new contract highs once
again. December live cattle closed $2.22 higher at $244.75, February live
cattle closed $1.80 higher at $247.20 and April live cattle closed $1.10 higher
at $248.22. Fueled by the market's robust accomplishments last week, and
clinging to the hope that this week's market will be as fruitful, traders
weren't timid about supporting the complex early in the week. Monday's
slaughter is estimated at 106,000 head, 5,000 head more than a week ago and
13,000 head less than a year ago. New showlists appear to be a tad lower in
Nebraska/Colorado and Texas and lower in Kansas.
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