DTN Closing Livestock Comment 09/18 15:53
18 Sep 2020
DTN Closing Livestock Comment 09/18 15:53 Cattle Contracts Secure Late Gains Friday Friday's trade was worth watching as cash cattle trade jumped higher yet again and allowed the cattle contracts to close stronger. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Earlier this week it seemed like the week's sole attention was going to align with the lean hog complex, leaving the cattle complex to drift merely lower. But as the week's cash cattle trade developed for stronger money, traders noticed the underlying support and upon Friday's $4.00 cash cattle jump, the markets rallied. Hog prices closed lower on the National Direct Afternoon Hog Report, down $2.35 with a weighted average of $60.26 on 8,722 head. December corn is up 3 1/4 cents per bushel and December soybean meal is up $6.80. The Dow Jones Industrial Average is down 244.69 points and NASDAQ is down 117.00 points.