DTN Closing Livestock Comment 08/21 15:20
21 Aug 2023
DTN Closing Livestock Comment 08/21 15:20 Traders See Validity in Cattle on Feed Data The cattle complex was finally thrown a bone throughout Monday's trade as trades elected to use the day to capitalize on the Cattle on Feed report's positive findings. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The cattle complex rallied throughout Monday's trade as traders saw the validity and support in last week's Cattle on Feed data. Meanwhile, the lean hog complex closed lower as traders continue to year for fundamental support, but the market continues to come up short. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $1.87 with a weighted average price of $91.65 on 828 head. December corn is down 10 1/2 cents per bushel and December soybean meal is up $7.50. The Dow Jones Industrial Average is down 48.80 points.