DTN Closing Livestock Comment 11/14 16:20
14 Nov 2019
DTN Closing Livestock Comment 11/14 16:20 Cattle Contracts Dissipate Wednesday Cattle contracts dissipate while the lean hog market closed mixed Wednesday. By ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: There's more than one way to tango and it seems as if the market is just finding the right beat to follow before it picks its year-end rhythm. Wednesday's melody was proudly touted by the bearish base-drum players who kept their rhythm until enough traders believed that the days of stronger markets were over for 2019. But then Thursday came, and the bulls lifted their trumpets and played their fiddles too. Being able to rally nearly half of Wednesday's loss back in the feeder cattle markets and more than half in the live cattle contracts, the bulls gave it all they had until the closing bell. Hog prices are lower on the National Direct Afternoon Hog Report, down $0.04 with a weighted average of $42.20. December corn is up 1/2 cent per bushel and December soybean meal is down $1.00. The Dow Jones Industrial Average is down 1.63 points and NASDAQ is down 3.08 points.