DTN Closing Livestock Comment 09/02 16:05
2 Sep 2020
DTN Closing Livestock Comment 09/02 16:05 Cattle Crumble Lower, Hogs Secure Another Positive Close Heading into the second half of the week, the cattle complex has seen significant losses while the lean hog market has kept with its positive trade. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Wednesday took out any question as to whether or not the cattle market had found a short-term low earlier in the week. Starting from the day's initial moments, the live cattle and feeder cattle contracts dipped $1.00 to $2.00 lower and closed the day with substantial losses. But despite the weakness in the cattle sector, the lean hog market once again closed higher with the cash market jumping higher as well. Hog prices were sharply higher on the National Direct Afternoon Hog Report, up $1.22 with a weighted average of $44.25 on 6,737 head. December corn is up 3/4 cent per bushel and December soybean meal is down $0.60. The Dow Jones Industrial Average is up 454.84 points and NASDAQ is up 116.77 points.