DTN Closing Livestock Comment 10/09 15:45
9 Oct 2023
DTN Closing Livestock Comment 10/09 15:45 Boxed Beef Prices and Pork Cutout Values Both Close Higher The livestock contracts were pressured through Monday's end but fundamentally the market faired pretty well as both pork cutout values and boxed beef prices ended Monday higher. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The livestock complex faired better throughout Monday's market than I expected given that today was the first trading day that traders had to react to the war outbreak in Israel. Yes, all the contracts closed modestly lower, but some strong fundamental wins were scored throughout the day with pork cutout values closing higher along with higher boxed beef prices. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $0.89 with a weighted average price of $74.81 on 5,042 head. December corn is down 3 3/4 cents per bushel and December soybean meal is up $2.50. The Dow Jones Industrial Average is up 197.07 points.