News & Resources

DTN Closing Livestock Comment 09/22 15:13

22 Sep 2022
DTN Closing Livestock Comment 09/22 15:13 Livestock Sell-Off Continues Through Thursday Perhaps motivated by profit-taking after the livestock markets gave up on making new highs during the latter half of the week, futures traders sold off enough contracts Thursday afternoon to send cattle and hog prices plunging. Elaine Kub DTN Livestock Analyst GENERAL COMMENTS: Perhaps motivated by profit-taking after the livestock markets gave up on making new highs during the latter half of the week, futures traders sold off enough contracts Thursday afternoon to send cattle and hog prices plunging. Outside markets were no help, with the U.S. Dollar Index still headed higher after Wednesday's interest rate hike. Hog prices moved lower on the Daily Direct Afternoon Hog Report, down $4.12 with a weighted average of $94.03 on 6,811 head. Cash cattle saw light to moderate trade Thursday morning, with Southern live deals at $143 ($1 higher than last week) and Northern dressed deals at mostly $228 (also $1 higher than last week). December corn closed up 2 3/4 cents at $6.88 1/4 per bushel, and December soybean meal closed down $9.90 at $428.90 per ton. The Dow Jones Industrial Average is down 107.69 points.