DTN Closing Livestock Comment 11/03 16:16
3 Nov 2021
DTN Closing Livestock Comment 11/03 16:16 Wild Wednesday for Livestock Futures Heading into Thursday's trade, pay close attention to the export report as it could heavily influence hogs, and be ready for fireworks in the cash cattle market as feedlots are eager to move this market higher. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: With the livestock complex closing completely higher, there was a lot to take in from Wednesday's trade. The cash cattle market is yet to really trade cattle, as packers and feedlots are stuck in a standoff. The feeder cattle contracts have had their floodgates swung wide open as corn prices are drifting lower and the live cattle market only continues to grow in strength. The lean hog market is seeing holiday buying spark its market and drive pork cutout prices higher. Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.30 with a weighted average of $60.68 on 8,447 head. December corn is down 9 cents per bushel and December soybean meal is up $3.60. The Dow Jones Industrial Average is up 104.95 points and NASDAQ is up 161.98 points.