DTN Closing Livestock Comment 10/03 15:46
3 Oct 2023
DTN Closing Livestock Comment 10/03 15:46 Economic Pressure Sends Livestock Plummeting It was a tough day for the livestock complex as all three of the markets closed lower due to outside economic pressure. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: It was a doggish day for the livestock complex as a spike in the number of jobs available in the U.S. jumped sharply higher and will likely ensure that interest rates are increased later this month. The feeder cattle complex too the brunt of Tuesday's blow as its contracts closed anywhere from $4.00 to $5.00 lower. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $3.18 with a weighted average price of $71.24 on 5,474 head. December corn is down 1 1/4 cents per bushel and December soybean meal is down $2.60. The Dow Jones Industrial Average is down 430.97 points.