DTN Closing Livestock Comment 10/21 16:10
Pressure Keeps Lean Hogs and Live Cattle Contracts Captive
Wednesday was another mixed day for the livestock market as feeders closed
higher but left the live cattle and lean hog market lower.
DTN Livestock Analyst
Wednesday's trade wasn't favorable for the livestock sector as the live
cattle and lean hog markets still closed lower. Following Monday's drastic
downward nosedive, the feeder cattle complex was able to close higher as
traders saw an opportunity to invest. Hog prices closed higher on the National
Direct Afternoon Hog Report, up $1.38 with a weighted average of $63.22 on
10,347 head. December corn is up 5 cents per bushel and December soybean meal
is up $6.90. The Dow Jones Industrial Average is down 97.97 points and NASDAQ
is down 31.80 points.
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