DTN Closing Livestock Comment 11/19 16:08
19 Nov 2020
DTN Closing Livestock Comment 11/19 16:08 Losses Across Entire Livestock Sector Thursday Lean hog futures led the livestock sector lower Thursday with losses of more than $3 per cwt at various points during the session. The ultimate close was $1.20 to $2.85 lower for any live cattle, feeder cattle, or hog contract. Elaine Kub Contributing Analyst GENERAL COMMENTS: Disappointing pork export sales to China may have been the motivator behind some of the selling pressure that exacerbated the downward trend in lean hog futures Thursday. And, without traders to step in as supportive buyers, the cattle markets fell as well. Hog prices closed lower on the National Direct Afternoon Hog Report, off $0.04 with a weighted average of $58.48 on 6,047 head. December corn closed down 3 1/4 cents per bushel and December soybean meal closed down $1.20 per ton. The Dow Jones Industrial Average is up 44.81 points and NASDAQ is up 90.72 points.