DTN Closing Livestock Comment 10/16 16:00
16 Oct 2023
DTN Closing Livestock Comment 10/16 16:00 Livestock Futures Fall in Early Week Trade Firm pressure in feeder cattle and lean hog futures Monday caused triple-digit losses in most nearby contract months as traders look for additional direction later in the week. Rick Kment DTN Analyst GENERAL COMMENTS: Early triple-digit losses in lean hog and feeder cattle futures left the livestock market on the defensive through the Monday trading session. The moves lower during early week trade is not enough to change the general direction due to the overall lack of activity in the complex. Despite narrow gains in October live cattle futures, the underlying tone of the live cattle market remained defensive also. Hog prices closed higher on the Daily Direct Afternoon hog report, up $2.75 with a weighted average of $774.82 on 2,588 hogs. December corn closed down 3 1/4 at $4.90 and December soybean meal closed up $0.20 at $390.20. The Dow Jones Industrial Average is up 314.25 at 33,984.54.