DTN Closing Livestock Comment 10/16 16:02
Cattle Closes Higher, Hog Markets Take the Back Burner
Closing surprisingly higher than anticipated, cattle markets ended the day
stronger while hog markets are simply mixed at closing Wednesday.
By ShayLe Stewart
DTN Livestock Analyst
Live cattle contracts plunged lower right after the noon hour but were able
to rebound and close higher than the day's initial open. Feeder cattle markets
are mostly higher and the lean hog sector closed mixed. Hog prices are lower on
the National Direct Afternoon Hog Report, down $0.40 with a weighted average of
$58.82. December corn is down 1 1/2 cents per bushel and December soybean meal
is down $3.00. The Dow Jones Industrial Average is down 15.59 points and NASDAQ
is down 23.17 points.
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