DTN Closing Livestock Comment 11/04 16:04
4 Nov 2021
DTN Closing Livestock Comment 11/04 16:04 Cash Cattle Standoff Continues Thursday As the week looks to Friday, cattlemen will continue to watch the cash cattle market, hoping that feedlots get their full asking price. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Heading into Friday's trade, everyone will be eyeing the cash cattle market to see whether feedlots win this week's battle or if packers are able to convince them to take slightly lower prices than what they had originally hoped for. The market sits in a prime position for feedlots to demand the prices they are asking, but Friday's outcome will depend on how desperate packers are to get cattle. Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.86 with a weighted average of $59.82 on 8,042 head. December corn is down 4 3/4 cents per bushel and December soybean meal is down $5.00. The Dow Jones Industrial Average is down 33.35 points and NASDAQ is up 128.73 points.