DTN Closing Livestock Comment 10/05 15:34
5 Oct 2023
DTN Closing Livestock Comment 10/05 15:34 Have Hogs Found Their Bottom? The lean hog complex rounded out the day higher as traders viewed Thursday morning's export report and the slight uptick in pork cutout values as enough of a reason to support the contracts. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The lean hog complex saw support through Thursday's end, but cattle complex closed mixed with hesitancy still being the underlying tone of the cattle market. Some light cash cattle trade developed throughout the day, but more will likely develop through Friday. Hog prices closed lower on the Daily Direct Afternoon Hog Report, down $1.48 with a weighted average price of $70.29 on 1,053 head. December corn is up 11 1/2 cents per bushel and December soybean meal is up $5.20. The Dow Jones Industrial Average is down 9.98 points.