DTN Closing Livestock Comment 10/20 16:09
Cattle Complex Attracts Some Support
Thankfully, as Tuesday rolled into the afternoon, the cattle complex
attracted some traders and closed higher following Monday's regression.
DTN Livestock Analyst
Tuesday's afternoon allowed traders the opportunity to jump back into the
marketplace and support the cattle contracts, but the same can't be said for
the lean hog market. Cattle contracts rallied into the day's close while the
lean hog market endured some pressure. Hog prices closed higher on the National
Direct Afternoon Hog Report, up $0.58 with a weighted average of $62.31 on
10,884 head. December corn is up 3 1/2 cents per bushel and December soybean
meal is down $1.30. The Dow Jones Industrial Average is up 113.37 points and
NASDAQ is up 37.61 points.
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