DTN Closing Livestock Comment 10/20 15:51
20 Oct 2023
DTN Closing Livestock Comment 10/20 15:51 Livestock Futures Tumble Lower Friday Active losses in cattle and lean hog futures trade added concerns that further weakness may develop. Lack of support in outside markets added to the late-week pressure, creating further concerns of additional pressure next week. Rick Kment DTN Analyst GENERAL COMMENTS: Livestock markets remained extremely weak Friday as cattle traders looked for the faint hope of good news in Friday's cattle on feed report. Good news did not come; cattle on feed and cattle placements were above year ago levels and pre-report estimates. This is likely to add to market concerns early next week. Triple-digit losses were seen Friday in live cattle, feeder cattle and lean hog futures. Cattle on feed Oct. 1 increased 1% from year-ago levels. This is the second highest October on-feed inventory level since the series began in 1996.