DTN Closing Livestock Comment 11/15 16:05
15 Nov 2023
DTN Closing Livestock Comment 11/15 16:05 Additional Support Develops in Cattle Futures Midweek gains redeveloped in cattle trade with triple-digit gains seen in both live cattle and feeder cattle futures. The ability to rebound from last week's losses has traders looking for additional support as the week continues. Hog futures slipped lower, but remain within the current market range seen over the last three weeks. Rick Kment DTN Analyst GENERAL COMMENTS: Active buying returned to the cattle complex Wednesday, with firm triple-digit gains holding through most of the session in nearby live cattle futures and most feeder cattle contracts. The ability to attract and sustain buyer interest following last week's market freefall is gaining momentum with traders focused on moving prices off short-term lows. There is still underlying concern ahead of Friday's Cattle on Feed report, but for now, traders seem to have already worked in the higher report expectations into the already subdued market prices.