DTN Closing Livestock Comment 10/29 16:02
29 Oct 2024
DTN Closing Livestock Comment 10/29 16:02 Cattle Dive Lower as Traders Worry About the Market Being Overbought Tuesday was tough on the cattle complex, and Wednesday's market could likely see continued pressure as traders will need something to develop fundamentally before they'll likely be confident in the market again. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Tuesday ended up being a mixed day for the livestock complex as the cattle complex dove lower as traders panicked about the market being overbought, but the lean hog complex successfully traded higher throughout the day. Still no cash cattle sales have been noted. December corn is up 3 cents per bushel and December soybean meal is down $3.00. The Dow Jones Industrial Average is down 154.52 points.