DTN Closing Livestock Comment 10/18 15:46
18 Oct 2022
DTN Closing Livestock Comment 10/18 15:46 Cheaper Corn Allows the Livestock Complex Another Day of Stronger Trade Heading into Wednesday's market, both the cattle and hog sectors are hoping that consumer demand holds strong, and that the futures market continues to skate higher. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: It was another exhilarating day for the livestock complex as all three of the markets were able to close higher thanks to phenomenal fundamental support and lower grain prices. The cash cattle market didn't see any bids develop, but given that feedlots are price cattle higher again this week, trade will likely be delayed until later in the week. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $7.61 with a weighted average of $93.85 on 17,120 head. December corn is down 2 1/2 cents per bushel and December soybean meal is down $9.20. The Dow Jones Industrial Average is up 337.98 points.