DTN Closing Livestock Comment 11/01 16:13
1 Nov 2021
DTN Closing Livestock Comment 11/01 16:13 Monday Brings an Array of Signals to Livestock Contracts Heading into Tuesday's trade, the market is anxious to see where feedlots price cattle as the market stands a good chance at demanding higher cash prices again this week. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: The live cattle contracts closed lower but the market's fundamentals continue to beg for higher prices. Before the week is all said and done, it's likely that the cash cattle market achieves higher prices again this week and that the futures market comes around once follow-through support is seen in the cash market. The feeder cattle contracts battled a rallying corn market throughout Monday's trade and the hog market continues see lower cash prices and a weakening cutout value. Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.67 with a weighted average of $61.03, ranging from $60.00 to $62.50 on 5,895 head.