DTN Closing Livestock Comment 09/29 16:00
Cattle Find Technical Support
Heading into Friday's market, the cattle complex is hoping to keep its
morale elevated and to not pressure is newfound support plane.
DTN Livestock Analyst
Even though the lean hog contracts drew back ahead of the day's end, the
livestock complex successfully walked away with some wins from Thursday's
market. First, both the beef and pork markets were pleased with the day's
export report. Second, the live cattle and feeder cattle contracts found
technical support. Lastly, the day's Hogs and Pigs report came in supportive.
Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $4.93
with a weighted average of $88.35 on 5,889 head. December corn is down 1 cent
per bushel and December soybean meal is down $5.50. The Dow Jones Industrial
Average is down 458.13 points.
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