DTN Closing Livestock Comment 11/10 16:13
10 Nov 2021
DTN Closing Livestock Comment 11/10 16:13 Hog Plants May Be Able to Run Faster Chain Speeds Both the live cattle and lean hog contracts had a successful day, but the feeder cattle market sank lower upon the corn market's rally. ShayLe Stewart DTN Livestock Analyst GENERAL COMMENTS: Wednesday's trade was significant for the market even though it didn't necessarily mean that the futures contracts shot sharply higher. The announcement that the Biden administration may allow for some pork plants to run faster chain speeds could be extremely positive if plants are indeed able to do so, and whenever the cash cattle market can rally it's a positive signal for the markets. Hog prices closed lower on the National Direct Afternoon Hog Report, down $0.57 with a weighted average of $58.09 on 5,052 head. December corn is up 14 1/2 cents per bushel and December soybean meal is down $0.10. The Dow Jones Industrial Average is down 240.04 points and NASDAQ is down 263.84 points.