DTN Closing Livestock Comment 10/11 15:52
11 Oct 2022
DTN Closing Livestock Comment 10/11 15:52 Corn Closes Lower Giving Cattle a Chance to Recover From Monday Heading into Wednesday's market, both cattle and hog producers will be eyeing the day's WASDE report to see how demand is forecasted in the upcoming quarters of 2022 and beyond. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The livestock complex closed mostly higher as the hog market found the support from consumers that it needed, and the corn complex closed lower, which allowed for cattle to close higher. On Wednesday, the market will see the latest WASDE report be released, which could affect grain prices and consequently, the cattle contracts too. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $3.74 with a weighted average of $87.88 on 9,233 head and a five-day rolling average of $89.77. December corn is down 5 1/4 cents per bushel and December soybean meal is up $0.30. The Dow Jones Industrial Average is up 36.31 points.